GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 28, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

The activity in goodwill by segment for the three months ended March 28, 2021 was as follows:

	December 27, 2020		Currency Translation		March 28, 2021
	(In thousands)
U.S.	$	41,936	$	—	$	41,936
U.K. and Europe	835,505		14,078		849,583
Mexico	127,804		—		127,804
Total	$	1,005,245	$	14,078	$	1,019,323

Identified intangible assets consisted of the following:

		December 27, 2020		Amortization		Currency Translation		March 28, 2021
	(In thousands)
Cost:
Trade names		$	78,343	$	—	$	—	$	78,343
Customer relationships		297,062		—		2,299		299,361
Non-compete agreements		320		—		—		320
Trade names not subject to amortization		405,240		—		6,643		411,883
Accumulated amortization:
Trade names		(47,486)		(492)		—		(47,978)
Customer relationships		(143,246)		(5,321)		(860)		(149,427)
Non-compete agreements		(320)		—		—		(320)
Total		$	589,913	$	(5,813)	$	8,082	$	592,182

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

At March 28, 2021, the Company assessed if events or changes in circumstances indicated that the asset group-level carrying amounts 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 asset group-level carrying amounts of its identified intangible assets subject to amortization at that date.