Intangible Assets, Net

12 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Intangible Assets, Net

The following table summarizes intangible assets, net as of December 30, 2023 and December 31, 2022:

	December 30, 2023						December 31, 2022
(in millions of U.S. dollars)	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Intangible Assets
Not subject to amortization
Trademarks	$	379.7	$	—	$	379.7	$	379.7	$	—	$	379.7
Intellectual Property	1.5		—		1.5		1.4		—		1.4
Total intangible assets not subject to amortization	$	381.2	$	—	$	381.2	$	381.1	$	—	$	381.1
Subject to amortization
Customer relationships	$	603.8	$	293.1	$	310.7	$	583.4	$	265.0	$	318.4
Patents	19.2		13.3		5.9		19.2		11.0		8.2
Software	54.7		40.9		13.8		46.3		33.3		13.0
Other	8.4		5.8		2.6		7.8		4.7		3.1
Total intangible assets subject to amortization	$	686.1	$	353.1	$	333.0	$	656.7	$	314.0	$	342.7
Total intangible assets	$	1,067.3	$	353.1	$	714.2	$	1,037.8	$	314.0	$	723.8

Amortization expense of intangible assets was $40.6 million, $42.0 million, and $39.5 million for the years ended December 30, 2023, December 31, 2022, and January 1, 2022, respectively.

The following table summarizes the estimated amortization expense for intangible assets subject to amortization over the next five years:

(in millions of U.S. dollars)
2024	$	38.1
2025	30.0
2026	29.5
2027	24.7
2028	20.4
Thereafter	190.3
Total	$	333.0