Goodwill and Other Intangible Assets

9 Months Ended

Sep. 25, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill amounts by reportable segment are summarized as follows:

	Goodwill at		Acquisitions (1)		Dispositions		Other (2)		Goodwill at
	December 26, 2020								September 25, 2021
Hardware and Protective Solutions	$	565,578	$	9,450	$	—	$	(32)	$	574,996
Robotics and Digital Solutions	220,936		—		—		—		220,936
Canada	29,686		—		—		363		30,049
Total	$	816,200	$	9,450	$	—	$	331	$	825,981

(1)See Note 5 - Acquisitions for additional information regarding the OZCO acquisition.

(2)The "Other" change to goodwill relates to adjustments resulting from fluctuations in foreign currency exchange rates for the Canada and Mexico reporting units.

Other intangibles, net, as of September 25, 2021 and December 26, 2020 consist of the following: 

	Estimated Useful Life (Years)			September 25, 2021		December 26, 2020
Customer relationships	13	-	20	$	965,488	$	941,648
Trademarks - Indefinite	Indefinite			85,676		85,603
Trademarks - Other	7	-	15	29,000		26,400
Technology and patents	8	-	12	67,756		63,749
Intangible assets, gross				1,147,920		1,117,400
Less: Accumulated amortization				337,361		291,434
Other intangibles, net				$	810,559	$	825,966

The amortization expense for amortizable assets, including the adjustments resulting from fluctuations in foreign currency exchange rates for the thirteen and thirty-nine weeks ended September 25, 2021 was $15,504 and $45,827, respectively. Amortization expense for the thirteen and thirty-nine weeks ended September 26, 2020 was $14,883 and $44,596, respectively.The Company tests goodwill and indefinite-lived intangible assets for impairment annually in the fourth quarter. Impairment is also tested when events or changes in circumstances indicate that the carrying values of the assets may be greater than their fair values. During the thirteen and thirty-nine weeks ended September 25, 2021 and the thirteen and thirty-nine weeks ended September 26, 2020, the Company did not identify any triggering events that would result in an impairment analysis outside of the annual assessment.