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Distribution Agreements, Net (Tables) - Distribution Agreements [Member]
12 Months Ended
Dec. 29, 2019
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 29, 2019

 

 

December 30, 2018

 

Distribution agreements at cost

 

$

950,549

 

 

$

950,559

 

Less: Accumulated amortization

 

 

74,453

 

 

 

50,176

 

Distribution agreements, net

 

$

876,096

 

 

$

900,383

 

 

Reconciliation of Activity for Other Identifiable Intangible Assets Net

A reconciliation of the activity for distribution agreements, net in 2019 and 2018 is as follows:

 

 

 

Fiscal Year

 

(in thousands)

 

2019

 

 

2018

 

Beginning balance - distribution agreements, net

 

$

900,383

 

 

$

913,352

 

Other distribution agreements

 

 

(10

)

 

 

6,332

 

Measurement period adjustments(1)

 

 

-

 

 

 

4,700

 

Additional accumulated amortization

 

 

(24,277

)

 

 

(24,001

)

Ending balance - distribution agreements, net

 

$

876,096

 

 

$

900,383

 

 

(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 October 2017 as part of the System Transformation. All final post-closing adjustments for these transactions were completed during 2018. The adjustments to amortization expense associated with these measurement period adjustments were not material to the consolidated financial statements.