Balance Sheet Account Details (Tables)

6 Months Ended

Jun. 29, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Cash, Cash Equivalents and Restricted Cash


(In millions)	June 29, 2025		December 29, 2024
Cash and cash equivalents	$	151.7	$	98.3
Restricted cash included in Other assets	—		0.2
Cash, cash equivalents and restricted cash	$	151.7	$	98.5

Accounts Receivable, Net

Accounts receivables primarily consist of trade accounts receivables with maturities of one year or less and are presented net of reserves:


(In millions)	June 29, 2025		December 29, 2024
Accounts receivable	$	365.0	$	382.0
Allowance for contract rebates and discounts	(74.1)		(85.3)
Allowance for doubtful accounts	(15.9)		(14.3)
Total accounts receivable, net	$	275.0	$	282.4

Inventories

Inventories are stated at the lower of cost (first-in, first-out) or net realizable value. Inventories consisted of the following:


(In millions)	June 29, 2025		December 29, 2024
Raw materials	$	205.6	$	211.8
Work-in-process (materials, labor and overhead)	103.8		90.6
Finished goods (materials, labor and overhead)	323.0		291.6
Total inventories	$	632.4	$	594.0

Inventories	$	578.7	$	533.7
Other assets (1)	53.7		60.3
Total inventories	$	632.4	$	594.0

(1) Other assets includes inventory expected to remain on hand beyond one year.

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


(In millions)	June 29, 2025		December 29, 2024
Income taxes and other tax receivables	$	70.0	$	112.1
Prepaid expenses	66.3		73.2
Contract assets	34.2		32.5
Other receivables	17.7		24.3
Derivatives	14.8		15.1
Other (1)	31.0		5.2
Total prepaid expenses and other current assets	$	234.0	$	262.4

(1) Primarily relates to cloud computing.

Goodwill

Changes in goodwill were as follows:


(In millions)	North America		EMEA		China		Other		Total



Balance at December 29, 2024	$	—	$	566.0	$	66.6	$	16.9	$	649.5


Foreign currency translation	—		59.8		1.2		0.6		61.6
Balance at June 29, 2025	$	—	$	625.8	$	67.8	$	17.5	$	711.1

Other Current Liabilities

Other current liabilities consisted of the following:


(In millions)	June 29, 2025		December 29, 2024
Accrued commissions, rebates and returns	$	59.5	$	67.4
Deferred revenue	40.2		33.5
Operating lease liabilities	30.0		31.1
Accrued other taxes payable	21.1		20.9
Derivatives	16.9		4.0
Accrued interest	14.0		39.0
Professional services	12.9		21.4


Other	83.6		71.4
Total other current liabilities	$	278.2	$	288.7

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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+ Details

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