Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.22.0.1
Intangible Assets (Tables)
12 Months Ended
Dec. 30, 2021
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 30, 2021 December 31, 2020
Goodwill, balance at beginning of year $ 227,447  $ 227,447 
Acquisitions (1)
28,026  — 
Goodwill, balance at end of year $ 255,473  $ 227,447 
(1)    Reflects goodwill related to the Spartan acquisition. See Note 14, “Acquisition” 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 30, 2021 and December 31, 2020 are as follows:
December 30, 2021 December 31, 2020
in thousands Gross carrying amount Accumulated amortization Net carrying value Gross carrying amount Accumulated amortization Net carrying value
Amortizable intangible assets:
Customer relationships $ 34,900  $ (1,697) $ 33,203  $ —  $ —  $ — 
Non-compete agreement
300  (37) 263  —  —  — 
Total amortizable intangible assets 35,200  (1,734) 33,466  —  —  — 
Indefinite-lived intangible assets:
Trade names 118,469  —  118,469  109,269  —  109,269 
Total intangible assets: $ 153,669  $ (1,734) $ 151,935  $ 109,269  $ —  $ 109,269 
Schedule of Indefinite-Lived Intangible Assets
The gross carrying amount and accumulated amortization of other intangible assets as of December 30, 2021 and December 31, 2020 are as follows:
December 30, 2021 December 31, 2020
in thousands Gross carrying amount Accumulated amortization Net carrying value Gross carrying amount Accumulated amortization Net carrying value
Amortizable intangible assets:
Customer relationships $ 34,900  $ (1,697) $ 33,203  $ —  $ —  $ — 
Non-compete agreement
300  (37) 263  —  —  — 
Total amortizable intangible assets 35,200  (1,734) 33,466  —  —  — 
Indefinite-lived intangible assets:
Trade names 118,469  —  118,469  109,269  —  109,269 
Total intangible assets: $ 153,669  $ (1,734) $ 151,935  $ 109,269  $ —  $ 109,269 
Schedule of Future Amortizable Expense Related to Other Intangible Assets
As of December 30, 2021, the estimated aggregate future amortizable expense related to other intangible assets is as follows:
in thousands Amount
2022 $ 2,974 
2023 2,974 
2024 2,974 
2025 2,974 
2026 2,908 
Thereafter 18,662 
Total $ 33,466