XML 33 R16.htm IDEA: XBRL DOCUMENT v3.8.0.1
GOODWILL AND IDENTIFIED INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND IDENTIFIED INTANGIBLE ASSETS
GOODWILL AND IDENTIFIED INTANGIBLE ASSETS
The activity in goodwill by segment for the years ended December 31, 2017 and December 25, 2016 were as follows:
 
 
December 25, 2016
 
Additions
 
Currency Translation
 
December 31, 2017
 
 
(In thousands)
United States
 
$

 
$
41,936

 
$

 
$
41,936

U.K. and Europe
 
761,614

 

 
72,732

 
834,346

Mexico
 
125,607

 

 

 
125,607

     Total
 
$
887,221

 
$
41,936

 
$
72,732

 
$
1,001,889

 
 
December 27, 2015
 
Additions
 
Currency Translation
 
December 25, 2016
 
 
(In thousands)
United States
 
$

 
$

 
$

 
$

U.K. and Europe
 
915,641

 

 
(154,027
)
 
761,614

Mexico
 
156,565

 
(30,958
)
 

 
125,607

     Total
 
$
1,072,206

 
$
(30,958
)
 
$
(154,027
)
 
$
887,221


Identified intangible assets consisted of the following:
 
December 25, 2016
 
Additions
 
Amortization
 
Currency Translation
 
Disposals
 
December 31, 2017
 
 
(In thousands)
Carrying amount:
 
 
 
 
 
 
 
 
 
 
 
 
     Trade names
$
41,369

 
$
38,200

 
$

 
$
117

 
$

 
$
79,686

 
     Customer relationships
151,147

 
92,900

 

 
7,905

 

 
251,952

 
     Non-compete agreements
300

 
20

 

 

 

 
320

 
     Trade names not subject to
           amortization
369,258

 

 

 
34,336

 

 
403,594

 
Accumulated amortization:

 
 
 
 
 
 
 
 
 

 
     Trade names
(37,128
)
 

 
(3,808
)
 
48

 

 
(40,888
)
 
     Customer relationships
(53,055
)
 

 
(22,571
)
 
(1,568
)
 

 
(77,194
)
 
     Non-compete agreements
(300
)
 

 
(7
)
 

 

 
(307
)
 
Total
$
471,591

 
$
131,120

 
$
(26,386
)
 
$
40,838

 
$

 
$
617,163

 
 
December 27, 2015
 
Additions
 
Amortization
 
Currency Translation
 
Disposals
 
December 25, 2016
 
 
(In thousands)
Carrying amount:
 
 
 
 
 
 
 
 
 
 
 
 
     Trade names
$
41,617

 
$

 
$

 
$
(248
)
 
$

 
$
41,369

 
     Customer relationships
168,021

 

 

 
(16,874
)
 

 
151,147

 
     Non-compete agreements
300

 

 

 

 

 
300

 
     Trade names not subject to
          amortization
441,974

 

 

 
(72,716
)
 

 
369,258

 
Accumulated amortization:
 
 
 
 
 
 
 
 
 
 

 
     Trade names
(35,216
)
 

 
(1,905
)
 
(7
)
 

 
(37,128
)
 
     Customer relationships
(37,583
)
 

 
(16,834
)
 
1,362

 

 
(53,055
)
 
     Non-compete agreements
(300
)
 

 

 
 
 

 
(300
)
 
Total
$
578,813

 
$

 
$
(18,739
)
 
$
(88,483
)
 
$

 
$
471,591

 
Intangible assets are amortized over the estimated useful lives of the assets as follows:
Customer relationships
5-16 years
Trade names
3-20 years
Non-compete agreements
3 years
The Company recognized amortization expense related to identified intangible assets of $26.4 million in 2017, $18.7 million in 2016 and $8.5 million in 2015.
The Company expects to recognize amortization expense associated with identified intangible assets of $24.9 million in 2018, $23.5 million in 2019, $19.7 million in 2020, $19.7 million in 2021 and $19.7 million in 2022.
At December 31, 2017, the Company assessed qualitative factors to determine if it was necessary to perform either the two-step quantitative impairment test related to the carrying amount of its goodwill or quantitative impairment tests related to the carrying amounts of its identified intangible assets not subject to amortization. Based on these assessments, the Company determined that it was not necessary to perform either the two-step quantitative impairment test related to the carrying amount of its goodwill nor the quantitative impairment tests related to the carrying amounts its identified intangible assets not subject to amortization at that date.
At December 31, 2017, the Company assessed if events or changes in circumstances indicated that the aggregate carrying amount of its identified intangible assets subject to amortization might not be recoverable. There were no indicators present that required the Company to test the recoverability of the aggregate carrying amount of its identified intangible assets subject to amortization at that date.