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Goodwill and Other Intangibles
 6 Months Ended
Jul. 02, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangibles GOODWILL AND OTHER INTANGIBLES
Goodwill includes the cost of acquired businesses in excess of the fair value of the tangible and other intangible net assets acquired. Other intangible assets include customer relationships, amortizable trade names, noncompete agreements, the brand names comprising the Company’s portfolio of exclusive brands, and trademarks. Brand names and trademarks are indefinite-lived intangible assets and, accordingly, are not subject to amortization, but are subject to impairment assessments as described below.
Customer relationships, amortizable trade names and noncompete agreements are intangible assets with definite lives, and are carried at the acquired fair value less accumulated amortization. Customer relationships, amortizable trade names and noncompete agreements are amortized over their estimated useful lives (which range from approximately 3 to 15 years). Amortization expense was $11 million and $13 million for the 13 weeks ended July 2, 2022 and July 3, 2021, respectively, and $22 million and $32 million for the 26 weeks ended July 2, 2022 and July 3, 2021, respectively.
Goodwill and other intangibles—net consisted of the following:
July 2, 2022January 1, 2022
Goodwill$5,625 $5,625 
Other intangibles—net
Customer relationships—amortizable:
Gross carrying amount
$655 $655 
Accumulated amortization
(121)(99)
Net carrying value
534 556 
Trade names—amortizable:
Gross carrying amount
4 4 
Accumulated amortization
(1)(1)
Net carrying value
3 3 
Brand names and trademarks—not amortizing
271 271 
Total other intangibles—net$808 $830 
The Company assesses for impairment of intangible assets with definite lives only if events occur that indicate that the carrying amount of an intangible asset may not be recoverable. The Company assesses goodwill and other intangible assets with indefinite lives for impairment annually, or more frequently if events occur that indicate an asset may be impaired. For goodwill
and indefinite-lived intangible assets, the Company’s policy is to assess for impairment as of the beginning of each fiscal third quarter. No impairments were recognized for the 26 weeks ended July 2, 2022 and July 3, 2021, respectively.