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ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES
 3 Months Ended
Apr. 02, 2022
Business Acquisition [Line Items]  
ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLES
 
The Company has completed numerous acquisitions since its formation, which have been financed through a combination of debt and equity funding and available cash. 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. Goodwill acquired during a business combination has an indefinite life and is not amortized.

Changes in the carrying amount of goodwill, by reportable segment, from January 1, 2022 to April 2, 2022 are summarized as follows:
 WestEastCement
Total  
Balance—January 1, 2022$570,509 $388,585 $204,656 $1,163,750 
Dispositions (1)— (12,036)— (12,036)
Foreign currency translation adjustments621 — — 621 
Goodwill allocated to assets held for sale— (6,059)— (6,059)
Balance—April 2, 2022$571,130 $370,490 $204,656 $1,146,276 
_______________________________________________________________________
(1) Reflects goodwill derecognition from dispositions completed during the three months ended April 2, 2022.
The Company’s intangible assets subject to amortization are primarily composed of operating permits, mineral lease agreements and reserve rights. Operating permits relate to permitting and zoning rights acquired outside of a business combination. 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 certain 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 or permits. The following table shows intangible assets by type and in total:

 April 2, 2022January 1, 2022
 Gross
 Carrying
 Amount		Accumulated
 Amortization		Net
 Carrying
 Amount		Gross
 Carrying
 Amount		Accumulated
 Amortization		Net
 Carrying
 Amount
Operating permits$33,671 $(2,987)$30,684 $33,671 $(2,467)$31,204 
Mineral leases15,463 (6,105)9,358 19,927 (8,922)11,005 
Reserve rights25,586 (3,535)22,051 25,586 (3,329)22,257 
Other5,286 (364)4,922 5,481 (551)4,930 
Total intangible assets$80,006 $(12,991)$67,015 $84,665 $(15,269)$69,396 
 
Amortization expense totaled $0.9 million and $1.0 million for the three months ended April 2, 2022 and April 3, 2021, respectively. The estimated amortization expense for the intangible assets for each of the five years subsequent to April 2, 2022 is as follows:

2022 (nine months)$2,830 
20233,780 
20243,754 
20253,710 
20263,661 
20273,649 
Thereafter45,631 
Total$67,015 

In the first quarter of 2022, as part of the Company's strategy to rationalize assets, the Company sold one business in the East segment, resulting in cash proceeds of $47.8 million and a total gain on disposition of $14.2 million.

As of April 2, 2022, the Company has operations in the East Segment that are classified as assets held for sale. Asset and liabilities held for sale as of April 2, 2022 and January 1, 2022 were as follows:
April 2, 2022January 1, 2022
Cash and cash equivalents$175 $— 
Accounts receivable, net7,124 — 
Costs and estimated earnings in excess of billings1,333 — 
Inventories26,361 — 
Other current assets1,579 1,236 
Total current assets held for sale$36,572 $1,236 
Property, plant and equipment, net$77,988 $— 
Goodwill6,059 — 
Intangible assets, net1,858 — 
Operating lease right-of-use assets998 — 
Other assets15,279 — 
Total noncurrent assets held for sale$102,182 $— 
Accounts payable$7,844 $— 
Accrued expenses3,873 — 
Current operating lease liabilities403 — 
Billings in excess of costs and estimated earnings990 — 
Total current liabilities held for sale$13,110 $— 
Noncurrent operating lease liabilities$538 $— 
Other noncurrent liabilities2,493 — 
Total noncurrent liabilities held for sale$3,031 $— 

The above stated amounts classified as held for sale have been excluded from the tables shown in Note 2 - Intangible Assets, Note 3 - Accounts Receivable, net, Note 4 - Inventories, Note 5 - Accrued Expenses and Note 11 - Leases.
Summit Materials, LLC  
Business Acquisition [Line Items]  
ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLES
 
The Company has completed numerous acquisitions since its formation, which have been financed through a combination of debt and equity funding and available cash. 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. Goodwill acquired during a business combination has an indefinite life and is not amortized.

Changes in the carrying amount of goodwill, by reportable segment, from January 1, 2022 to April 2, 2022 are summarized as follows:
 WestEastCement
Total  
Balance—January 1, 2022$571,509 $388,585 $204,656 $1,164,750 
Dispositions (1)— (12,036)— (12,036)
Foreign currency translation adjustments621 — — 621 
Goodwill allocated to assets held for sale— (6,059)— (6,059)
Balance—April 2, 2022$572,130 $370,490 $204,656 $1,147,276 
_______________________________________________________________________
(1) Reflects goodwill derecognition from dispositions completed during the three months ended April 2, 2022.

The Company’s intangible assets subject to amortization are primarily composed of operating permits, mineral lease agreements and reserve rights. Operating permits relate to permitting and zoning rights acquired outside of a business combination. 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 certain 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 or permits. The following table shows intangible assets by type and in total:
 
 April 2, 2022January 1, 2022
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Operating permits$33,671 $(2,987)$30,684 $33,671 $(2,467)$31,204 
Mineral leases15,463 (6,105)9,358 19,927 (8,922)11,005 
Reserve rights25,586 (3,535)22,051 25,586 (3,329)22,257 
Other5,286 (364)4,922 5,481 (551)4,930 
Total intangible assets$80,006 $(12,991)$67,015 $84,665 $(15,269)$69,396 
 
Amortization expense totaled $0.9 million and $1.0 million for the three months ended April 2, 2022 and April 3, 2021, respectively. The estimated amortization expense for the intangible assets for each of the five years subsequent to April 2, 2022 is as follows:
 
2022 (nine months)$2,830 
20233,780 
20243,754 
20253,710 
20263,661 
20273,649 
Thereafter45,631 
Total$67,015 
In the first quarter of 2022, as part of the Company's strategy to rationalize assets, the Company sold one business in the East segment, resulting in cash proceeds of $47.8 million and a total gain on disposition of $14.2 million.

As of April 2, 2022, the Company has operations in the East Segment that are classified as assets held for sale. Asset and liabilities held for sale as of April 2, 2022 and January 1, 2022 were as follows:

April 2, 2022January 1, 2022
Cash and cash equivalents$175 $— 
Accounts receivable, net7,124 — 
Costs and estimated earnings in excess of billings1,333 — 
Inventories26,361 — 
Other current assets1,579 1,236 
Total current assets held for sale$36,572 $1,236 
Property, plant and equipment, net$77,988 $— 
Goodwill6,059 — 
Intangible assets, net1,858 — 
Operating lease right-of-use assets998 — 
Other assets15,279 — 
Total noncurrent assets held for sale$102,182 $— 
Accounts payable$7,844 $— 
Accrued expenses3,873 — 
Current operating lease liabilities403 — 
Billings in excess of costs and estimated earnings990 — 
Total current liabilities held for sale$13,110 $— 
Noncurrent operating lease liabilities$538 $— 
Other noncurrent liabilities2,493 — 
Total noncurrent liabilities held for sale$3,031 $— 

The above stated amounts classified as held for sale have been excluded from the tables shown in Note 2 - Intangible Assets, Note 3 - Accounts Receivable, net, Note 4 - Inventories, Note 5 - Accrued Expenses and Note 10 - Leases.