Goodwill and Other Intangible Assets, Net

6 Months Ended

Jun. 25, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

Goodwill as of June 25, 2021, and December 25, 2020, was $580,842 and $559,735, respectively. Goodwill increased by $21,107 in 2021 due to the acquisition of Access Networks (see Note 3). There were no changes to goodwill during the year ended December 25, 2020.

As of June 25, 2021, and December 25, 2020, other intangible assets, net, consisted of the following:


		June 25, 2021
	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	5 – 25 years	$	509,162	$	(82,793)	$	426,369
Technology	5 – 15 years	95,078		(30,313)		64,765
Trade names – definite	2 – 10 years	57,660		(13,580)		44,080
Trade names – indefinite	indefinite	76,564		—		76,564
Total intangible assets		$	738,464	$	(126,686)	$	611,778


		December 25, 2020
	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	5 – 25 years	$	494,333	$	(70,060)	$	424,273
Technology	5 – 15 years	95,078		(22,406)		72,672
Trade names – definite	2 – 10 years	54,360		(10,253)		44,107
Trade names – indefinite	indefinite	76,564		—		76,564
Total intangible assets		$	720,335	$	(102,719)	$	617,616

Total amortization expense for intangible assets for the three months ended June 25, 2021 and June 26, 2020, was $12,079 and $11,872, respectively. Total amortization expense for intangible assets for the six months ended June 25, 2021 and June 26, 2020, was $23,967 and $23,747, respectively. The weighted-average useful life remaining for amortizing definite lived intangible assets was approximately 15.5 years as of June 25, 2021.

As of June 25, 2021, the estimated amortization expense for intangible assets for the next five fiscal years and thereafter are as follows:


Remainder of 2021	$	24,586
2022	48,321
2023	47,183
2024	40,681
2025	33,065
2026 and thereafter	341,378
Total	$	535,214