GOODWILL AND INTANGIBLES

3 Months Ended

Mar. 28, 2020

Business Acquisition [Line Items]

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES

The Company has completed numerous acquisitions since its formation, which have been financed through a combination of debt and equity funding. The operations of each acquisition have been included in the Company’s consolidated results of operations since the respective closing dates of the acquisitions. The Company measures all assets acquired and liabilities assumed at their acquisition-date fair value.

Changes in the carrying amount of goodwill, by reportable segment, from December 28, 2019 to March 28, 2020 are summarized as follows: 

	West			East		Cement		Total
Balance—December 28, 2019	$	584,617		$	410,426	$	204,656	$	1,199,699
Foreign currency translation adjustments	(4,142		)	—		—		(4,142		)
Balance—March 28, 2020	$	580,475		$	410,426	$	204,656	$	1,195,557

The Company’s intangible assets are primarily composed of goodwill, mineral lease agreements and reserve rights. The assets related to mineral lease agreements reflect the submarket royalty rates paid under agreements, primarily for extracting aggregates. The values were determined as of the respective acquisition dates by a comparison of market-royalty rates. The reserve rights relate to aggregate reserves to which the Company has the rights of ownership, but does not own the reserves. The intangible assets are amortized on a straight-line basis over the lives of the leases. The following table shows intangible assets by type and in total:

	March 28, 2020							December 28, 2019
	Gross  Carrying  Amount		Accumulated  Amortization			Net  Carrying  Amount		Gross  Carrying  Amount		Accumulated  Amortization			Net  Carrying  Amount
Mineral leases	$	19,064	$	(6,690	)	$	12,374	$	19,064	$	(6,408	)	$	12,656
Reserve rights	6,234		(2,323		)	3,911		6,234		(2,248		)	3,986
Trade names	1,000		(983		)	17		1,000		(958		)	42
Other	7,566		(1,075		)	6,491		7,566		(752		)	6,814
Total intangible assets	$	33,864	$	(11,071	)	$	22,793	$	33,864	$	(10,366	)	$	23,498

Amortization expense totaled $0.7 million and $0.4 million for the three months ended March 28, 2020 and March 30, 2019, respectively. The estimated amortization expense for the intangible assets for each of the five years subsequent to March 28, 2020 is as follows:

2020 (nine months)	$	1,823
2021	2,147
2022	2,142
2023	2,009
2024	1,914
2025	1,869
Thereafter	10,889
Total	$	22,793

Summit Materials, LLC

Business Acquisition [Line Items]

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES

The Company has completed numerous acquisitions since its formation, which have been financed through a combination of debt and equity funding. The operations of each acquisition have been included in the Company’s consolidated results of operations since the respective closing dates of the acquisitions. The Company measures all assets acquired and liabilities assumed at their acquisition-date fair value.

Changes in the carrying amount of goodwill, by reportable segment, from December 28, 2019 to March 28, 2020 are summarized as follows:

	West			East		Cement		Total
Balance—December 28, 2019	$	585,617		$	410,426	$	204,656	$	1,200,699
Foreign currency translation adjustments	(4,142		)	—		—		(4,142		)
Balance—March 28, 2020	$	581,475		$	410,426	$	204,656	$	1,196,557

The Company’s intangible assets are primarily composed of goodwill, mineral lease agreements and reserve rights. The assets related to mineral lease agreements reflect the submarket royalty rates paid under agreements, primarily for extracting aggregates. The values were determined as of the respective acquisition dates by a comparison of market-royalty rates. The reserve rights relate to aggregate reserves to which the Company has the rights of ownership, but does not own the reserves. The intangible assets are amortized on a straight-line basis over the lives of the leases. The following table shows intangible assets by type and in total:

	March 28, 2020							December 28, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Mineral leases	$	19,064	$	(6,690	)	$	12,374	$	19,064	$	(6,408	)	$	12,656
Reserve rights	6,234		(2,323		)	3,911		6,234		(2,248		)	3,986
Trade names	1,000		(983		)	17		1,000		(958		)	42
Other	7,566		(1,075		)	6,491		7,566		(752		)	6,814
Total intangible assets	$	33,864	$	(11,071	)	$	22,793	$	33,864	$	(10,366	)	$	23,498

Amortization expense totaled $0.7 million and $0.4 million for the three months ended March 28, 2020 and March 30, 2019, respectively. The estimated amortization expense for the intangible assets for each of the five years subsequent to March 28, 2020 is as follows:

2020 (nine months)	$	1,823
2021	2,147
2022	2,142
2023	2,009
2024	1,914
2025	1,869
Thereafter	10,889
Total	$	22,793