Goodwill and Intangible Assets, net

6 Months Ended

Jun. 27, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, net

Goodwill and Intangible Assets, net

Goodwill

There was no impairment for the three month and six month periods ended June 27, 2021 and June 28, 2020, respectively.

Intangible Assets, net

The components of intangible assets, net consisted of the following as of the dates presented (in thousands):

	June 27, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	390,900	$	(172,534)	$	218,366
Technology	1,700		(1,700)		—
Trade name	24,800		(9,802)		14,998
Total	$	417,400	$	(184,036)	$	233,364
	December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	390,900	$	(149,163)	$	241,737
Technology	1,700		(1,700)		—
Trade name	24,800		(8,327)		16,473
Total	$	417,400	$	(159,190)	$	258,210

As of the six months period ended June 27, 2021, customer relationships and trade name intangibles had weighted average remaining useful lives of 7.8 years and 5.5 years, respectively.

For the six months ended June 27, 2021 and June 28, 2020, amortization expense was approximately $24.8 million and $16.1 million, respectively. For the three months ended June 27, 2021 and June 28, 2020, amortization expense was approximately $12.6 million and $8.0 million, respectively.

Estimated amortization expense in future years is expected to be:

	As of
	June 27, 2021
Remainder of 2021	$	25,261
2022	50,089
2023	40,666
2024	33,782
2025	28,015
Thereafter	55,551
Total	$	233,364