GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 25, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

The activity in goodwill by segment for the six months ended June 25, 2023 was as follows:

	December 25, 2022		Currency Translation		June 25, 2023
	(In thousands)
U.S.	$	41,936	$	—	$	41,936
U.K. and Europe	1,058,204		55,002		1,113,206
Mexico	127,804		—		127,804
Total	$	1,227,944	$	55,002	$	1,282,946

Intangible assets consisted of the following:

	December 25, 2022		Amortization		Currency Translation		June 25, 2023
	(In thousands)
Cost:
Trade names not subject to amortization	$	549,024	$	—	$	29,591	$	578,615
Trade names subject to amortization	112,057		—		874		112,931
Customer relationships	427,662		—		13,217		440,879
Accumulated amortization:
Trade names	(53,708)		(1,898)		(139)		(55,745)
Customer relationships	(189,015)		(14,821)		(4,749)		(208,585)
Intangible assets, net	$	846,020	$	(16,719)	$	38,794	$	868,095

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 June 25, 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.