GOODWILL AND AMORTIZABLE INTANGIBLE ASSETS

12 Months Ended

Dec. 30, 2017

GOODWILL AND AMORTIZABLE INTANGIBLE ASSETS

GOODWILL AND AMORTIZABLE INTANGIBLE ASSETS

4. GOODWILL AND AMORTIZABLE INTANGIBLE ASSETS

As of December 30, 2017 the Company has recorded $7,229,000 of goodwill consisting of $6,229,000 related to the CACS segment and $1,000,000 related to the Door segment. The Company assesses goodwill for potential impairment at the end of each year. For the CACS segment, the Company engages the services of an investment banking firm to assist management in determining the fair value of the reporting unit. For the Door segment, the Company prepares a discounted cash flow analysis to estimate the fair value of the reporting unit. In addition, if events occur or circumstances change in the relevant reporting segments or in their industries the Company will then reassess the recorded goodwill to determine if impairment has occurred. No goodwill impairment was recognized for any of the periods presented. The valuation of goodwill and other intangibles is considered a significant estimate. Future economic conditions could negatively impact the value of the business which could trigger an impairment that would materially impact earnings.

There were no changes in recorded goodwill for either of the years ended December 30, 2017 or December 31, 2016.

All intangible assets were fully amortized as of December 31, 2016, therefore amortization expense for periods after December 31, 2016 is $0. Amortization expense was $21,000 for 2016.