Goodwill and Intangible Assets, net

9 Months Ended

Sep. 26, 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 nine month periods ended September 26, 2021 and September 27, 2020, respectively.

Intangible Assets, net

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

	September 26, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	390,900	$	(184,427)	$	206,473
Technology	1,700		(1,700)		—
Trade name	24,800		(10,539)		14,261
Total	$	417,400	$	(196,666)	$	220,734
	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 nine months period ended September 26, 2021, customer relationships and trade name intangibles had weighted average remaining useful lives of 7.6 years and 5.2 years, respectively.

For the nine months ended September 26, 2021 and September 27, 2020, amortization expense was approximately $37.5 million and $24.1 million, respectively. For the three months ended September 26, 2021 and September 27, 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
	September 26, 2021
Remainder of 2021	$	12,630
2022	50,089
2023	40,666
2024	33,782
2025	28,015
Thereafter	55,552
Total	$	220,734