GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 26, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

The activity in goodwill by reportable segment for the years ended December 26, 2021 and December 27, 2020 were as follows:

	December 27, 2020		Additions		Currency Translation		December 26, 2021
	(In thousands)
U.S.	$	41,936	$	—	$	—	$	41,936
U.K. and Europe	835,505		350,364		(18,357)		1,167,512
Mexico	127,804		—		—		127,804
Total	$	1,005,245	$	350,364	$	(18,357)	$	1,337,252

	December 29, 2019		Additions		Currency Translation		December 27, 2020
	(In thousands)
U.S.	$	41,936	$	—	$	—	$	41,936
U.K. and Europe	806,207		—		29,298		835,505
Mexico	125,607		2,197		—		127,804
Total	$	973,750	$	2,197	$	29,298	$	1,005,245

Identified intangible assets consisted of the following:

	December 27, 2020		Additions		Amortization		Currency Translation		December 26, 2021
	(In thousands)
Carrying amount:
Trade names not subject to      amortization	$	405,240	$	214,047	$	—	$	(9,574)	$	609,713
Trade names subject to      amortization	78,343		36,825		—		(900)		114,268
Customer relationships	297,062		164,285		—		(5,888)		455,459
Non-compete agreements	320		—		—		—		320
Accumulated amortization:
Trade names	(47,486)		—		(2,409)		(6)		(49,901)
Customer relationships	(143,246)		—		(23,963)		913		(166,296)
Non-compete agreements	(320)		—		—		—		(320)
Total	$	589,913	$	415,157	$	(26,372)	$	(15,455)	$	963,243

	December 29, 2019		Additions		Amortization		Currency Translation		December 27, 2020
	(In thousands)
Carrying amount:
Trade names not subject to      amortization	$	391,431	$	—	$	—	$	13,809	$	405,240
Trade names subject to      amortization	78,343		—		—		—		78,343
Customer relationships	292,278		—		—		4,784		297,062
Non-compete agreements	320		—		—		—		320
Accumulated amortization:
Trade names	(45,518)		—		(1,968)		—		(47,486)
Customer relationships	(120,481)		—		(20,747)		(2,018)		(143,246)
Non-compete agreements	(320)		—		—		—		(320)
Total	$	596,053	$	—	$	(22,715)	$	16,575	$	589,913

For additional information regarding the additions in above tables, refer to “Note 2. Business Acquisitions.”

Intangible assets are amortized over the estimated useful lives of the assets as follows:

Customer relationships	3-18 years
Trade names subject to amortization	15-20 years
Non-compete agreements	3 years

The Company recognized amortization expense related to identified intangible assets of $26.4 million in 2021, $22.7 million in 2020 and $22.9 million in 2019.

The Company expects to recognize amortization expense associated with identified intangible assets of $35.4 million in 2022, $34.3 million in 2023, $33.3 million in 2024 and $33.3 million in 2025, and $31.3 million in 2026.

As of December 26, 2021, the Company assessed qualitative factors to determine if it was necessary to perform quantitative impairment tests related to the carrying amounts of its goodwill or its identified intangible assets not subject to amortization. Based on these assessments, the Company determined that it was not necessary to perform quantitative impairment tests related to the carrying amount of its goodwill nor its identified intangible assets not subject to amortization at that date.

As of December 26, 2021, 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.