XML 28 R14.htm IDEA: XBRL DOCUMENT v3.24.0.1
Intangible Assets
 12 Months Ended
Dec. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets INTANGIBLE ASSETS
The Company performed its annual goodwill impairment test during the third quarter of 2023. The Company performed a qualitative assessment of each reporting unit and determined that it was not more-likely-than-not that the fair value of any reporting unit was less than its carrying amount. As a result, no impairments of goodwill were recognized in 2023 and 2022.
The Company also performed its annual indefinite-lived intangible asset impairment test during the third quarter of 2023. The Company performed a qualitative assessment of the indefinite-lived intangible assets and determined that it was not more-likely-than-not that the fair value of any indefinite-lived intangible asset was less than the carrying amount. As a result, no impairments of indefinite-lived intangible assets were recognized in 2023 and 2022.
The changes in the carrying amount of goodwill are as follows:
December 30,
2023		December 31,
2022
Balance at beginning of year:
Gross goodwill$17,368 $17,668 
Goodwill as of beginning of year17,368 17,668 
  
Goodwill acquired during the year— 582 
Currency translation adjustment(266)(882)
Balance as of end of year
Gross goodwill17,102 17,368 
Goodwill as of end of year$17,102 $17,368 
Intangible assets consist of the following:
As of December 30, 2023
Gross carrying
amount		Accumulated
 amortization		Net carrying
amount		Weighted-average
amortization
period (years)
Amortized intangible assets
Trade name and trademarks$2,285 $(343)$1,942 10
Product formulas8,480 (8,426)54 8
Customer relationships3,314 (1,243)2,071 4
Non-compete agreements467 (184)283 4
Indefinite-lived intangible assets
Direct selling license25,569 25,569 
$40,115 $29,919 
Estimated Amortization Expense: 
2024$1,223 
20251,154 
2026692 
2027253 
2028229 
Thereafter799 
$4,350 
As of December 31, 2022
Gross carrying
amount		Accumulated
amortization 		Net carrying
amount		Weighted-average
amortization
period (years)
Amortized intangible assets
Trade name and trademarks$2,285 $(114)$2,171 10
Product formulas8,701 (7,983)718 8
Customer relationships3,313 (414)2,899 4
Non-compete agreements467 (61)406 4
Indefinite-lived intangible assets
Direct selling license26,238 26,238 
$41,004 $32,432 
Aggregate amortization of intangible assets was $1,835, $1,723, and $1,182 for the years ended 2023, 2022, and 2021, respectively.