Note 7 - Goodwill

9 Months Ended

Oct. 02, 2021

Notes to Financial Statements

Goodwill Disclosure [Text Block]

7.    Goodwill

Goodwill represents the premium paid over the fair value of the net tangible and intangible assets acquired in business combinations.  The Company tests goodwill for impairment on an annual basis as of the last day of the Company's fiscal year or more frequently if events occur or circumstances change indicating that the fair value of goodwill may be below the carrying amount.  During the thirty-nine week period ended October 2, 2021, the Company reviewed the carrying value of goodwill due to the events and circumstances surrounding the COVID-19 pandemic. While COVID-19 has negatively impacted the Company, and the Company expects this negative impact to continue at least through the fourth quarter of fiscal 2021 and possibly beyond, the Company did not conclude in such review that this negative impact is permanent. The Company has determined that no other indicators of impairment of goodwill existed during the thirty-nine week period ended October 2, 2021. As such, no impairment loss on the Company’s goodwill during the thirty-nine week period ended October 2, 2021 was recorded as a result of such review.

The carrying amount of goodwill as of October 2, 2021 and January 2, 2021 is as follows:

Engineering		Specialty Health Care		Information Technology		Total
$	11,918	$	2,398	$	2,038	$	16,354