XML 28 R12.htm IDEA: XBRL DOCUMENT v3.24.0.1
Intangible Assets
12 Months Ended
Dec. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
Goodwill and changes in the carrying amount of goodwill are as follows for the periods presented:
in thousandsDecember 28,
2023
December 29,
2022
Goodwill, balance at beginning of year$255,473 $255,473 
Acquisition (1)
2,467 — 
Goodwill, balance at end of year$257,940 $255,473 
(1)    Reflects goodwill related to the Salesmaster acquisition completed in fiscal 2023. See Note 15, “Acquisitions” for additional details.
The gross carrying amount and accumulated amortization of other intangible assets as of December 28, 2023 and December 29, 2022 are as follows:
December 28, 2023December 29, 2022
in thousandsGross carrying amount (1)Accumulated amortizationNet carrying valueGross carrying amount (1)Accumulated amortizationNet carrying value
Amortizable intangible assets:
Customer relationships$43,216 $(8,147)$35,069 $38,216 $(4,728)$33,488 
Non-compete agreement
300 (169)131 300 (104)196 
Total amortizable intangible assets43,516 (8,316)35,200 38,516 (4,832)33,684 
Indefinite-lived intangible assets:
Trade names118,669 — 118,669 118,669 — 118,669 
Total intangible assets
$162,185 $(8,316)$153,869 $157,185 $(4,832)$152,353 
(1)    Refer to Note 15, “Acquisitions” for details related to intangible assets acquired during fiscal 2023 and fiscal 2022.
Amortization expense related to amortizable intangible assets was $3.5 million, $3.1 million, and $1.7 million for the fiscal years ended December 28, 2023, December 29, 2022, and December 30, 2021, respectively, and was included within general and administrative expenses on the Company’s Consolidated Statements of Operations and Comprehensive Income.
As of December 28, 2023, the estimated aggregate future amortizable expense related to other intangible assets is as follows:
in thousandsAmount
2024$3,667 
20253,667 
20263,601 
20273,601 
20283,601 
Thereafter17,063 
Total$35,200