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Goodwill
 12 Months Ended
Dec. 29, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill

11.

Goodwill

 

A reconciliation of the activity for goodwill in 2019 and 2018 is as follows:

 

 

 

Fiscal Year

 

(in thousands)

 

2019

 

 

2018

 

Beginning balance - goodwill

 

$

165,903

 

 

$

169,316

 

Measurement period adjustments(1)

 

 

-

 

 

 

(3,413

)

Ending balance - goodwill

 

$

165,903

 

 

$

165,903

 

 

(1)

Measurement period adjustments relate to post-closing adjustments made in accordance with the terms and conditions of the applicable asset purchase agreement or asset exchange agreement for distribution territories acquired or exchanged by the Company in April 2017 and October 2017 as part of the System Transformation. All final post-closing adjustments for these transactions were completed during 2018.

 

The Company’s goodwill resides entirely within the Nonalcoholic Beverages segment. The Company performed its annual impairment test of goodwill as of the first day of the fourth quarter during both 2019 and 2018 and determined there was no impairment of the carrying value of these assets.