Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.24.0.1
Intangible Assets
 12 Months Ended
Dec. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
Goodwill and changes in the carrying amount of goodwill are as follows for the periods presented:
in thousands December 28,
2023		 December 29,
2022
Goodwill, balance at beginning of year $ 255,473  $ 255,473 
Acquisition (1)
2,467  — 
Goodwill, balance at end of year $ 257,940  $ 255,473 
(1)    Reflects goodwill related to the Salesmaster acquisition completed in fiscal 2023. See Note 15, “Acquisitions” for additional details.
The gross carrying amount and accumulated amortization of other intangible assets as of December 28, 2023 and December 29, 2022 are as follows:
December 28, 2023 December 29, 2022
in thousands Gross carrying amount (1) Accumulated amortization Net carrying value Gross carrying amount (1) Accumulated amortization Net carrying value
Amortizable intangible assets:
Customer relationships $ 43,216  $ (8,147) $ 35,069  $ 38,216  $ (4,728) $ 33,488 
Non-compete agreement
 300  (169) 131  300  (104) 196 
Total amortizable intangible assets 43,516  (8,316) 35,200  38,516  (4,832) 33,684 
Indefinite-lived intangible assets:
Trade names 118,669  —  118,669  118,669  —  118,669 
Total intangible assets
 $ 162,185  $ (8,316) $ 153,869  $ 157,185  $ (4,832) $ 152,353 
(1)    Refer to Note 15, “Acquisitions” for details related to intangible assets acquired during fiscal 2023 and fiscal 2022.
Amortization expense related to amortizable intangible assets was $3.5 million, $3.1 million, and $1.7 million for the fiscal years ended December 28, 2023, December 29, 2022, and December 30, 2021, respectively, and was included within general and administrative expenses on the Company’s Consolidated Statements of Operations and Comprehensive Income.
As of December 28, 2023, the estimated aggregate future amortizable expense related to other intangible assets is as follows:
in thousands Amount
2024 $ 3,667 
2025 3,667 
2026 3,601 
2027 3,601 
2028 3,601 
Thereafter 17,063 
Total $ 35,200