Quarterly report pursuant to Section 13 or 15(d)

Acquired Intangible Assets and Goodwill

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Acquired Intangible Assets and Goodwill
 3 Months Ended
Mar. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Acquired Intangible Assets and Goodwill Acquired Intangible Assets and Goodwill
Intangible assets acquired in a business combination are recognized at fair value and amortized over their estimated useful lives. The carrying amount and accumulated amortization of recognized intangible assets at March 30, 2024 and December 30, 2023, are as follows:

Useful Life March 30, 2024 December 30, 2023
Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount
Customer relationships
10-15 years
 $ 408.8  $ 161.0  $ 247.8  $ 409.0  $ 154.1  $ 254.9 
Tradenames and trademarks
 Indefinite 107.4  —  107.4  107.5  —  107.5 
Software development
10-15 years
 20.3  7.9  12.4  20.3  7.5  12.8 
Noncompete agreements
3-8 years
 0.3  0.2  0.1  0.3  0.2  0.1 
$ 536.8  $ 169.1  $ 367.7  $ 537.1  $ 161.8  $ 375.3 
Changes to gross carrying amount of recognized intangible assets due to translation adjustments include a loss of $0.3 and gain of $0.8 for the periods ended March 30, 2024 and December 30, 2023, respectively. The amortization of intangible assets is included in the general and administrative expense on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income. Amortization expense was approximately $7.4 for both the three month periods ended March 30, 2024 and April 1, 2023.
The changes in the carrying amounts of goodwill for the period ended March 30, 2024 were as follows:
Janus North America Janus International Consolidated
Balance as of December 30, 2023 $ 357.0  $ 11.6  $ 368.6 
Foreign Currency Translation Adjustment —  (0.2) (0.2)
Balance as of March 30, 2024 $ 357.0  $ 11.4  $ 368.4