Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill and Other Intangible Assets

The table below summarizes our goodwill and other intangible assets as of December 30, 2023 and December 31, 2022, respectively, each of which is explained in additional detail below (amounts in thousands):

	December 30, 2023		December 31, 2022
Goodwill	$	677,796	$	545,244
Amortizable intangible assets, net of amortization		530,642		537,281
Indefinite-lived intangible assets		127,100		127,100
Total goodwill and other intangible assets	$	1,335,538	$	1,209,625

Summary of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill during Fiscal 2023, during which time we completed the acquisition of Papa Pita, are as follows (amounts in thousands):

	Total
Balance as of December 31, 2022	$	545,244
Acquisition		132,552
Balance as of December 30, 2023	$	677,796

Amortizable Intangible Assets

As of December 30, 2023 and December 31, 2022, the company had the following amounts related to amortizable intangible assets (amounts in thousands):

	December 30, 2023						December 31, 2022
Asset	Cost		Accumulated Amortization		Net Value		Cost		Accumulated Amortization		Net Value
Trademarks	$	481,715	$	107,562	$	374,153	$	477,115	$	92,763	$	384,352
Customer relationships		340,221		184,222		155,999		318,021		167,688		150,333
Non-compete agreements		5,454		5,206		248		5,154		5,114		40
Distributor relationships		4,123		3,881		242		4,123		3,673		450
Distributor routes held and used		—		—		—		3,249		1,143		2,106
Total	$	831,513	$	300,871	$	530,642	$	807,662	$	270,381	$	537,281

Amortization Expense

Amortization expense for Fiscal 2023, 2022, and 2021 was as follows (amounts in thousands):

	Amortization expense
Fiscal 2023	$	32,218
Fiscal 2022	$	31,752
Fiscal 2021	$	30,857

Estimated Amortization of Intangibles

Estimated amortization of intangibles for Fiscal 2024 and the next four years thereafter is as follows (amounts in thousands):

Fiscal year	Amortization of Intangibles
2024	$	31,409
2025	$	30,746
2026	$	28,891
2027	$	27,242
2028	$	25,611