Note 4 - Goodwill and Other Intangible Assets

3 Months Ended

Mar. 30, 2025

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

4. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill represents the premium paid over the fair value of the net tangible and identifiable intangible assets acquired in the Company's business combinations. There were no changes to goodwill during the 13-week period ended March 30, 2025. 

No goodwill impairment charges were incurred during the 13-week period ended March 30, 2025 and March 31, 2024, respectively. Potential changes in the Company's costs and operating structure, the implementation of synergies, and overall performance in the automotive aftermarket industry, could negatively impact near-term cash-flow projections and could trigger a potential impairment of the Company's goodwill and / or indefinite-lived intangible assets. In addition, failure to execute the Company's strategic plans as well as increases in weighted average costs of capital could negatively impact the fair value of the reporting unit and increase the risk of future impairment charges. 

On January 1, 2025, the Company, entered into an agreement with Cataclean Global Limited ("Cataclean") to purchase a perpetual exclusive license in North America for developing, manufacturing, marketing, distributing, using and selling existing Cataclean products as well as future product formulations in all sales channels in North America for a total purchase price of $23,800. The Cataclean perpetual license agreement of $23,800 is included in other intangible assets, net in the condensed consolidated balance sheets. As of March 30, 2025, the Company paid $4,760 and the remaining $19,040 is included in accrued liabilities in the condensed consolidated balance sheets. 

Intangible assets consisted of the following:

	March 30, 2025
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	269,352	$	(69,788	)	$	199,564
Tradenames		13,775		(6,509	)		7,266
Technology		27,449		(16,220	)		11,229
Total finite-lived intangible assets	$	310,576	$	(92,517	)	$	218,059
Indefinite-lived intangible assets:
Tradenames	$	165,271		—		$	165,271
License agreement		23,800		—			23,800
Total indefinite-lived intangible assets	$	189,071		—		$	189,071

	December 31, 2024
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	269,950	$	(67,426	)	$	202,524
Tradenames		13,775		(6,294	)		7,481
Technology		26,676		(15,265	)		11,411
Total finite-lived intangible assets	$	310,401	$	(88,985	)	$	221,416
Indefinite-lived intangible assets:
Tradenames	$	165,260		—		$	165,260

The following outlines the estimated future amortization expense related to intangible assets held as of March 30, 2025:

2025 (excluding the thirteen weeks ended March 30, 2025)	$	10,243
2026		13,552
2027		13,546
2028		13,546
2029		13,546
Thereafter		153,626
Total	$	218,059