GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table provides a rollforward of the changes in the carrying amount of the Company’s goodwill:


	RMS		DSA(1)		Manufacturing		Total
	(in thousands)
December 25, 2021	$	283,524	$	1,472,506	$	955,851	$	2,711,881
Acquisitions	215,752		—		(592)		215,160
Divestitures	—		—		(3,168)		(3,168)
Foreign exchange	(1,566)		(38,905)		(33,499)		(73,970)
December 31, 2022	497,710		1,433,601		918,592		2,849,903
Acquisitions	—		209,478		—		209,478
Divestitures	—		—		—		—
Foreign exchange	(236)		19,355		16,545		35,664
December 30, 2023	$	497,474	$	1,662,434	$	935,137	$	3,095,045
(1) DSA includes accumulated impairment losses of $1 billion, which were recognized in fiscal years 2008 and 2010.

Based on the Company’s quantitative goodwill impairment test, which was performed in the fourth quarter for each of the fiscal years 2023, 2022 and 2021, the fair value of each reporting unit exceeded the reporting unit’s book value and, therefore, goodwill was not impaired. After completing the quantitative testing for fiscal year 2023, all reporting units exceeded the carrying value by a significant amount except for the Biologics Solutions reporting unit which had a fair value that exceeded its carrying value by approximately 20%.

The increase in goodwill during fiscal year 2023 related to the acquisitions of Noveprim and SAMDI in the DSA reportable segment. The increase in goodwill during fiscal year 2022 related to the acquisition of Explora in the RMS reportable segment, partially offset by a decrease due to the Avian divestiture impacting the Manufacturing reportable segment.

Intangible Assets, Net

The following table displays intangible assets, net by major class:


	December 30, 2023						December 31, 2022
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(in thousands)
Client relationships	$	1,528,780	$	(721,322)	$	807,458	$	1,491,926	$	(591,417)	$	900,509
Technology	142,190		(111,764)		30,426		129,626		(101,655)		27,971
Backlog	$	3,100	$	(2,177)	$	923	$	15,236	$	(12,512)	$	2,724
Trademarks and trade names	11,878		(4,568)		7,310		12,617		(4,410)		8,207
Other	43,611		(25,677)		17,934		37,985		(22,121)		15,864
Intangible assets	$	1,729,559	$	(865,508)	$	864,051	$	1,687,390	$	(732,115)	$	955,275

The decrease in intangible assets, net during fiscal year 2023 related primarily to normal amortization over the useful lives, partially offset by the acquisitions of Noveprim and SAMDI.

Amortization expense of definite-lived intangible assets, including client relationships, for fiscal years 2023, 2022 and 2021 was $137.4 million, $146.6 million and $124.9 million, respectively. As of December 30, 2023, estimated amortization expense for intangible assets for each of the next five fiscal years is expected to be as follows:


Fiscal Year	Amortization Expense
	(in thousands)
2024	$	129,153
2025	$	120,995
2026	$	115,757
2027	$	103,164
2028	$	91,315