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Other Identifiable Intangible Assets Net
6 Months Ended
Jul. 02, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Other Identifiable Intangible Assets Net

7.Other Identifiable Intangible Assets, Net

 

Other identifiable intangible assets consisted of the following:

 

 

 

July 2, 2017

 

 

 

(in thousands)

 

Cost

 

 

Accumulated Amortization

 

 

Total, net

 

 

Estimated

Useful Lives

Distribution agreements

 

$

812,370

 

 

$

14,166

 

 

$

798,204

 

 

20-40 years

Customer lists and other identifiable intangible assets

 

 

19,738

 

 

 

6,132

 

 

 

13,606

 

 

12-20 years

Total other identifiable intangible assets

 

$

832,108

 

 

$

20,298

 

 

$

811,810

 

 

 

 

 

 

January 1, 2017

 

 

 

(in thousands)

 

Cost

 

 

Accumulated Amortization

 

 

Total, net

 

 

Estimated

Useful Lives

Distribution agreements

 

$

242,486

 

 

$

7,498

 

 

$

234,988

 

 

20-40 years

Customer lists and other identifiable intangible assets

 

 

15,938

 

 

 

5,511

 

 

 

10,427

 

 

12-20 years

Total other identifiable intangible assets

 

$

258,424

 

 

$

13,009

 

 

$

245,415

 

 

 

 

A reconciliation of the activity for other identifiable intangible assets for the first half of 2017 and the first half of 2016 is as follows:

 

(in thousands)

 

Distribution

Agreements

 

 

Customer Lists and Other Identifiable Intangible Assets

 

 

Total Other Identifiable Intangible Assets

 

Balance on January 1, 2017

 

$

234,988

 

 

$

10,427

 

 

$

245,415

 

YTD 2017 Expansion Transactions

 

 

36,800

 

 

 

3,800

 

 

 

40,600

 

Conversion to distribution rights from franchise rights

 

 

533,040

 

 

 

-

 

 

 

533,040

 

Other distribution agreements

 

 

44

 

 

 

-

 

 

 

44

 

Additional accumulated amortization

 

 

(6,668

)

 

 

(621

)

 

 

(7,289

)

Balance on July 2, 2017

 

$

798,204

 

 

$

13,606

 

 

$

811,810

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance on January 3, 2016

 

$

129,786

 

 

$

6,662

 

 

$

136,448

 

Q1 and Q2 2016 Expansion Transactions

 

 

22,750

 

 

 

2,000

 

 

 

24,750

 

Measurement period adjustment and other distribution agreements

 

 

1,696

 

 

 

-

 

 

 

1,696

 

Additional accumulated amortization

 

 

(2,050

)

 

 

(377

)

 

 

(2,427

)

Balance on July 3, 2016

 

$

152,182

 

 

$

8,285

 

 

$

160,467

 

 

Concurrent with its entrance into the Final CBA, the Company converted its franchise rights for the Legacy Territories to distribution rights, with an estimated useful life of 40 years, during the first quarter of 2017.