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Distribution Agreements, Net (Tables) - Distribution Agreements [Member]
 12 Months Ended
Dec. 30, 2018
Other Identifiable Intangible Assets Net

Distribution agreements, net, which are amortized on a straight-line basis and have an estimated useful life of 10 to 40 years, consisted of the following:

 

(in thousands)

 

December 30, 2018

 

 

December 31, 2017

 

Distribution agreements at cost

 

$

950,559

 

 

$

939,527

 

Less: Accumulated amortization

 

 

50,176

 

 

 

26,175

 

Distribution agreements, net

 

$

900,383

 

 

$

913,352

 

 
Reconciliation of Activity for Other Identifiable Intangible Assets Net

A reconciliation of the activity for distribution agreements, net in 2018 and 2017 is as follows:

 

 

 

Fiscal Year

 

(in thousands)

 

2018

 

 

2017

 

Beginning balance - distribution agreements, net

 

$

913,352

 

 

$

234,988

 

Conversion to distribution rights from franchise rights

 

 

-

 

 

 

533,040

 

2017 System Transformation Transactions acquisitions(1)

 

 

-

 

 

 

213,000

 

October 2017 Divestitures

 

 

-

 

 

 

(65,043

)

Measurement period adjustment(2)

 

 

4,700

 

 

 

16,000

 

Other distribution agreements

 

 

6,332

 

 

 

44

 

Additional accumulated amortization

 

 

(24,001

)

 

 

(18,677

)

Ending balance - distribution agreements, net

 

$

900,383

 

 

$

913,352

 

 

(1)

2017 System Transformation Transactions acquisitions includes an increase of $51.5 million in 2017 from the opening balance sheets for distribution territories and regional manufacturing facilities acquired in the System Transformation during 2017, as disclosed in the financial statements in the Company’s filed periodic reports. These adjustments are for post-closing adjustments made in accordance with the terms and conditions of the applicable asset purchase agreement or asset exchange agreement for each System Transformation Transaction. The adjustments to amortization expense associated with these measurement period adjustments were not material to the consolidated financial statements.

(2)

Measurement period adjustment relates to post-closing adjustments made in accordance with the terms and conditions of the applicable asset purchase agreement or asset exchange agreement for each System Transformation Transaction. The adjustments to amortization expense associated with this measurement period adjustment were not material to the consolidated financial statements.