Goodwill and Other Intangible Assets

3 Months Ended

Mar. 28, 2020

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

(5) Goodwill and Other Intangible Assets

The carrying amounts of goodwill and other intangible assets, as of the dates indicated, consist of the following (in thousands):

	March 28, 2020						December 28, 2019
	Gross Carrying		Accumulated		Net Carrying		Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount
Finite-Lived Intangible Assets
Trademarks	$	19,600	$	4,735	$	14,865	$	19,600	$	4,462	$	15,138
Customer relationships		354,090		133,851		220,239		354,090		129,402		224,688
Total finite-lived intangible assets	$	373,690	$	138,586	$	235,104	$	373,690	$	133,864	$	239,826
Indefinite-Lived Intangible Assets
Goodwill	$	599,557					$	596,391
Trademarks	$	1,375,300					$	1,375,300

The increase in the carrying amount of goodwill is attributable to the Farmwise acquisition.

Amortization expense associated with finite-lived intangible assets was $4.7 million and $4.5 million for the first quarter of 2020 and 2019, respectively. We expect to recognize an additional $14.2 million of amortization expense associated with our finite-lived intangible assets during the remainder of fiscal 2020, and thereafter $18.9 million of amortization expense in each of fiscal 2021 and 2022, $18.8 million in fiscal 2023 and $18.7 million in each of fiscal 2024 and 2025.