Note 8 - Intangible Assets

12 Months Ended

Dec. 30, 2023

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

8.    INTANGIBLE ASSETS

The Company evaluates long-lived assets and intangible assets with definite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.  When the Company determines that it is probable that undiscounted future cash flows will not be sufficient to recover an asset’s carrying amount, the asset is written down to its fair value.  Assets to be disposed of by sale, if any, are reported at the lower of the carrying amount or fair value less cost to sell.  The Company’s intangible assets consist of customer relationships and non-compete agreements.  During all periods presented, the Company determined that no impairment of intangible assets exists.

All of the Company’s intangible assets are associated with the Engineering segment.  Intangible assets other than goodwill are amortized over their useful lives.  Intangible assets are carried at cost, less accumulated amortization.

Details of intangible assets by class at December 30, 2023, December 31, 2022 and January 1, 2022:

	December 30, 2023		December 31, 2022		January 1, 2022
Customer relationships	$	683	$	864	$	-
Total intangible assets	$	683	$	864	$	-

Amortization of acquired intangible assets for the fiscal years ended December 30, 2023, December 31, 2022 and January 1, 2022 was $182, $46 and $95, respectively. The remaining intangible asset balance will be amortized through fiscal 2027.

Estimated future amortization expense, by fiscal years, for these intangibles assets are as follows:

2024	$	182
2025		182
2026		182
2027		137
Total	$	683