Intangible Assets

3 Months Ended

Mar. 27, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

INTANGIBLE ASSETS

The Company acquired HelloSociety, LLC (“HelloSociety”), a digital marketing agency, for $12.3 million in a cash transaction effective February 29, 2016. The Condensed Consolidated Financial Statements include the operating results of this acquisition subsequent to the date of acquisition.

The Company has preliminarily allocated the entire purchase price of the HelloSociety acquisition to intangible assets pending the completion of the valuation of assets acquired and liabilities assumed. This allocation will be adjusted once additional information concerning asset and liability valuations is obtained. The final asset and liability fair values may differ from those included in the Company’s Condensed Consolidated Balance Sheet as of March 27, 2016; however, the changes are not expected to have a material effect on the Company’s Condensed Consolidated Financial Statements.