Intangible Assets (Tables)
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12 Months Ended |
Dec. 26, 2024 |
Goodwill and Intangible Assets Disclosure [Abstract] |
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Schedule of Carrying Amount of Goodwill |
Goodwill and changes in the carrying amount of goodwill are as follows for the periods presented:
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in thousands |
December 26, 2024 |
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December 28, 2023 |
Goodwill, balance at beginning of year |
$ |
257,940 |
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|
$ |
255,473 |
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Acquisition (1)
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— |
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|
2,467 |
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Goodwill, balance at end of year |
$ |
257,940 |
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|
$ |
257,940 |
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(1) Reflects goodwill related to the Salesmaster Associates (“Salesmaster”) acquisition completed in fiscal 2023. See Note 15, “Acquisitions” for additional details.
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Schedule of Finite-Lived Intangible Assets |
The gross carrying amount and accumulated amortization of other intangible assets as of December 26, 2024 and December 28, 2023 are as follows:
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December 26, 2024 |
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December 28, 2023 |
in thousands |
Gross carrying amount |
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Accumulated amortization |
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Net carrying value |
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Gross carrying amount (1) |
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Accumulated amortization |
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Net carrying value |
Amortizable intangible assets: |
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Customer relationships |
$ |
43,216 |
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|
$ |
(11,747) |
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|
$ |
31,469 |
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|
$ |
43,216 |
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|
$ |
(8,147) |
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|
$ |
35,069 |
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Non-compete agreement |
300 |
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|
(235) |
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|
65 |
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|
300 |
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(169) |
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|
131 |
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Total amortizable intangible assets |
43,516 |
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(11,982) |
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|
31,534 |
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|
43,516 |
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(8,316) |
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|
35,200 |
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Indefinite-lived intangible assets: |
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Trade names |
118,669 |
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|
— |
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|
118,669 |
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|
118,669 |
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|
— |
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|
118,669 |
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Total intangible assets |
$ |
162,185 |
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|
$ |
(11,982) |
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$ |
150,203 |
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$ |
162,185 |
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|
$ |
(8,316) |
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|
$ |
153,869 |
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(1) Refer to Note 15, “Acquisitions” for details related to intangible assets acquired during fiscal 2023.
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Schedule of Indefinite-Lived Intangible Assets |
The gross carrying amount and accumulated amortization of other intangible assets as of December 26, 2024 and December 28, 2023 are as follows:
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December 26, 2024 |
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December 28, 2023 |
in thousands |
Gross carrying amount |
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Accumulated amortization |
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Net carrying value |
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Gross carrying amount (1) |
|
Accumulated amortization |
|
Net carrying value |
Amortizable intangible assets: |
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|
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Customer relationships |
$ |
43,216 |
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|
$ |
(11,747) |
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|
$ |
31,469 |
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|
$ |
43,216 |
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|
$ |
(8,147) |
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|
$ |
35,069 |
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Non-compete agreement |
300 |
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(235) |
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|
65 |
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|
300 |
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(169) |
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|
131 |
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Total amortizable intangible assets |
43,516 |
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(11,982) |
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|
31,534 |
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|
43,516 |
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(8,316) |
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|
35,200 |
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Indefinite-lived intangible assets: |
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Trade names |
118,669 |
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|
— |
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|
118,669 |
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|
118,669 |
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|
— |
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|
118,669 |
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Total intangible assets |
$ |
162,185 |
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$ |
(11,982) |
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$ |
150,203 |
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$ |
162,185 |
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|
$ |
(8,316) |
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|
$ |
153,869 |
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(1) Refer to Note 15, “Acquisitions” for details related to intangible assets acquired during fiscal 2023.
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Schedule of Future Amortizable Expense Related to Other Intangible Assets |
As of December 26, 2024, the estimated aggregate future amortizable expense related to other intangible assets is as follows:
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in thousands |
Amount |
2025 |
$ |
3,667 |
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2026 |
3,601 |
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2027 |
3,601 |
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2028 |
3,601 |
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2029 |
3,601 |
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Thereafter |
13,463 |
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Total |
$ |
31,534 |
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