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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Details of Goodwill

Details of aggregate goodwill of the Company are as follows:

 

 

 

 

 

 

 

 

 

 

(In millions)

 

Products

 

 

Services

 

 

Total

 

Balance at December 25, 2020

 

$

97.6

 

 

$

73.5

 

 

$

171.1

 

Business combination

 

 

98.9

 

 

 

-

 

 

 

98.9

 

Balance at December 31, 2021

 

$

196.5

 

 

$

73.5

 

 

$

270.0

 

Purchased Intangible Assets

Details of intangible assets were as follows:

 

 

 

 

 

 

As of December 31, 2021

 

 

As of December 25, 2020

 

 

 

 

 

 

Gross

 

 

 

 

 

 

Gross

 

 

 

 

 

 

 

 

Useful Life

 

 

Carrying

Accumulated

 

 

Carrying

 

 

Carrying

 

 

Accumulated

 

 

Carrying

 

(Dollars in millions)

(in years)

 

 

Amount

Amortization

 

 

Value

 

 

Amount

 

 

Amortization

 

 

Value

 

Customer relationships

6 - 10

 

 

$

188.4

 

 

$

(66.9

)

 

$

121.5

 

 

$

119.4

 

 

$

(50.6

)

 

$

68.8

 

Tradename

4 - 6*

 

 

 

36.8

 

 

 

(17.5

)

 

 

19.3

 

 

 

27.0

 

 

 

(11.7

)

 

$

15.3

 

Intellectual property/know-how

7 - 15

 

 

 

49.4

 

 

 

(13.1

)

 

 

36.3

 

 

 

13.9

 

 

 

(9.8

)

 

$

4.1

 

Backlog

 

1

 

 

 

4.3

 

 

 

(3.9

)

 

 

0.4

 

 

-

 

 

-

 

 

-

 

Recipes

20

 

 

 

73.2

 

 

 

(12.2

)

 

 

61.0

 

 

 

73.2

 

 

 

(8.5

)

 

$

64.7

 

Standard operating procedures

20

 

 

 

8.6

 

 

 

(1.4

)

 

 

7.2

 

 

 

8.6

 

 

 

(1.0

)

 

$

7.6

 

Total

 

 

 

 

$

360.7

 

 

$

(115.0

)

 

$

245.7

 

 

$

242.1

 

 

$

(81.6

)

 

$

160.5

 

Future Estimated Amortization Expense

 

 

Amortization

 

(In millions)

 

Expense

 

2022

 

$

31.6

 

2023

 

 

25.9

 

2024

 

 

25.0

 

2025

 

 

22.7

 

2026

 

 

21.6

 

Thereafter

 

 

109.9

 

Total

 

$

236.7