GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 26, 2023

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 26, 2023 was as follows:

	December 25, 2022		Currency Translation		March 26, 2023
	(In thousands)
U.S.	$	41,936	$	—	$	41,936
U.K. and Europe	1,058,204		15,669		1,073,873
Mexico	127,804		—		127,804
Total	$	1,227,944	$	15,669	$	1,243,613

Intangible assets consisted of the following:

	December 25, 2022		Amortization		Currency Translation		March 26, 2023
	(In thousands)
Cost:
Trade names not subject to amortization	$	549,024	$	—	$	8,274	$	557,298
Trade names subject to amortization	112,057		—		447		112,504
Customer relationships	427,662		—		3,882		431,544
Accumulated amortization:
Trade names	(53,708)		(943)		(37)		(54,688)
Customer relationships	(189,015)		(7,350)		(1,398)		(197,763)
Intangible assets, net	$	846,020	$	(8,293)	$	11,168	$	848,895

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

At March 26, 2023, the Company assessed if events or changes in circumstances indicated that the asset group-level carrying amounts of its 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 intangible assets subject to amortization at that date.