XML 30 R20.htm IDEA: XBRL DOCUMENT v3.20.2
GOODWILL AND INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 27, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of components of amortized intangible assets
The components of amortized intangible assets at June 27, 2020 and December 28, 2019 were as follows:
June 27, 2020
Gross
Carrying
Amount
Accumulated
Amortization
Weighted
Average
Life
Customer Relationships
$230,235  $142,425  13 years
Patents & Proprietary Technology
24,484  7,190  14 years
Other
7,362  6,604  4 years
$262,081  $156,219  
December 28, 2019
Gross
Carrying
Amount
Accumulated
Amortization
Weighted
Average
Life
Customer Relationships
$237,626  $149,720  13 years
Patents & Proprietary Technology
24,068  6,358  14 years
Other
8,054  7,035  5 years
$269,748  $163,113  
Schedule of amortization expense for intangible assets
Amortization expense for intangible assets for the thirteen and twenty-six weeks ended June 27, 2020 and June 29, 2019, respectively was as follows:
Thirteen weeks endedTwenty-six weeks ended
2020201920202019
$4,511  $4,632  $9,103  $9,022  
Schedule of future estimated amortization expense
Estimated annual amortization expense related to finite-lived intangible assets is as follows:
Estimated
Amortization
Expense
2020$17,214  
202114,838  
202212,959  
202311,116  
20249,389  
Schedule of non-amortized intangible assets The carrying value of trade names at June 27, 2020 and December 28, 2019 are as follows:
June 27,
2020
December 28,
2019
Year Acquired
Newmark$11,111  $11,111  2004
Webforge7,250  9,143  2010
Convert Italia S.p.A8,412  8,378  2018
Valmont SM8,010  7,966  2014
Ingal EPS/Ingal Civil Products7,029  7,454  2010
Walpar3,500  3,500  2018
Shakespeare4,000  4,000  2014
Other14,570  17,555  
$63,882  $69,107  
Schedule of carrying amount of goodwill
The carrying amount of goodwill by segment as of June 27, 2020 and December 28, 2019 was as follows:
Engineered
Support
Structures
Segment
Utility
Support
Structures
Segment
Coatings
Segment
Irrigation
Segment
Total
Gross Balance December 28, 2019$228,634  $130,594  $93,747  $25,136  $478,111  
Accumulated impairment losses
(18,670) (14,355) (16,222) —  (49,247) 
Balance at December 28, 2019209,964  116,239  77,525  25,136  428,864  
Acquisitions
—  1,100  —  5,127  6,227  
Asset impairment
(12,575) —  —  —  (12,575) 
Foreign currency translation
(4,301) 141  (790) 102  (4,848) 
Balance at June 27, 2020$193,088  $117,480  $76,735  $30,365  $417,668