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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill and Intangible Assets Net

Goodwill and intangible assets are as follows as of:

 

 

 

 

 

 

 

 

 

Initial

 

 

December 30,

 

 

December 31,

 

 

WA Useful Life

 

 

2023

 

 

2022

 

 

(in years)

 

 

(in thousands)

 

 

 

Goodwill

 

$

462,630

 

 

$

460,415

 

 

indefinite

 

 

 

 

 

 

 

 

 

Other intangible assets:

 

 

 

 

 

 

 

 

Trade names (indefinite-lived)

 

$

219,518

 

 

$

225,018

 

 

indefinite

 

 

 

 

 

 

 

 

 

Customer relationships and customer-related assets

 

 

340,047

 

 

 

340,047

 

 

<1-15

Trade name (amortizable)

 

 

22,200

 

 

 

22,200

 

 

15

Developed technology

 

 

20,500

 

 

 

20,500

 

 

3-14

Non-compete agreements

 

 

3,538

 

 

 

3,538

 

 

2-5

Software license

 

 

590

 

 

 

590

 

 

2

 

 

 

 

 

 

 

 

 

Total amortizable intangibles

 

 

386,875

 

 

 

386,875

 

 

13

 

 

 

 

 

 

 

 

 

Less: Accumulated amortization

 

 

(191,148

)

 

 

(164,841

)

 

 

 

 

 

 

 

 

 

 

 

Total amortizable intangibles, net

 

 

195,727

 

 

 

222,034

 

 

 

 

 

 

 

 

 

 

 

 

Other intangible assets, net

 

$

415,245

 

 

$

447,052

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill at December 31, 2022

 

$

460,415

 

 

 

 

 

 

Increase from Martin Acquisition net working capital payment

 

 

744

 

 

 

 

 

 

Net other measurement period changes in Martin Acquisition

 

 

1,471

 

 

 

 

 

 

Goodwill at December 30, 2023

 

$

462,630

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade names (indefinite-lived) at December 31, 2022

 

$

225,018

 

 

 

 

 

 

Decrease due to impairment of Martin trade name

 

 

(5,500

)

 

 

 

 

 

Trade names (indefinite-lived) at December 30, 2023

 

$

219,518

 

 

 

 

 

 

 

 

Estimated Amortization for Future Fiscal Year

Estimated amortization of our amortizable intangible assets is as follows for future fiscal years:

 

(in thousands)

 

Total

 

2024

 

$

25,971

 

2025

 

 

25,640

 

2026

 

 

21,241

 

2027

 

 

20,987

 

2028

 

 

16,771

 

Thereafter

 

 

85,117

 

 

 

 

 

Total

 

$

195,727