Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.22.4
Intangible Assets (Tables)
 12 Months Ended
Dec. 29, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Carrying Amount of Goodwill
Goodwill and changes in the carrying amount of goodwill are as follows for the periods presented:
in thousands December 29,
2022		 December 30,
2021
Goodwill, balance at beginning of year $ 255,473  $ 227,447 
Acquisitions (1)
—  28,026 
Goodwill, balance at end of year $ 255,473  $ 255,473 
(1)    Reflects goodwill related to the Spartan acquisition completed in fiscal 2021. See Note 14, “Acquisitions” for additional details.
Schedule of Finite-Lived Intangible Assets
In accordance with ASC 350, Intangibles—Goodwill and Other, identifiable intangible assets with finite lives are amortized over their estimated useful lives. The estimated lives of the Company’s finite-lived intangible assets are as follows:
Useful Life
Customer relationships 12 years
Non-compete agreement 5 years
The gross carrying amount and accumulated amortization of other intangible assets as of December 29, 2022 and December 30, 2021 are as follows:
December 29, 2022 December 30, 2021
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 $ 38,216  $ (4,728) $ 33,488  $ 34,900  $ (1,697) $ 33,203 
Non-compete agreement
 300  (104) 196  300  (37) 263 
Total amortizable intangible assets 38,516  (4,832) 33,684  35,200  (1,734) 33,466 
Indefinite-lived intangible assets:
Trade names 118,669  —  118,669  118,469  —  118,469 
Total intangible assets: $ 157,185  $ (4,832) $ 152,353  $ 153,669  $ (1,734) $ 151,935 
(1)    Refer to Note 14, “Acquisitions” for details related to intangible assets acquired during fiscal 2022 and fiscal 2021.
Schedule of Indefinite-Lived Intangible Assets
The gross carrying amount and accumulated amortization of other intangible assets as of December 29, 2022 and December 30, 2021 are as follows:
December 29, 2022 December 30, 2021
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 $ 38,216  $ (4,728) $ 33,488  $ 34,900  $ (1,697) $ 33,203 
Non-compete agreement
 300  (104) 196  300  (37) 263 
Total amortizable intangible assets 38,516  (4,832) 33,684  35,200  (1,734) 33,466 
Indefinite-lived intangible assets:
Trade names 118,669  —  118,669  118,469  —  118,469 
Total intangible assets: $ 157,185  $ (4,832) $ 152,353  $ 153,669  $ (1,734) $ 151,935 
(1)    Refer to Note 14, “Acquisitions” for details related to intangible assets acquired during fiscal 2022 and fiscal 2021.
Schedule of Future Amortizable Expense Related to Other Intangible Assets
As of December 29, 2022, the estimated aggregate future amortizable expense related to other intangible assets is as follows:
in thousands Amount
2023 $ 3,250 
2024 3,250 
2025 3,250 
2026 3,185 
2027 3,185 
Thereafter 17,564 
Total $ 33,684