Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.25.0.1
Intangible Assets
 12 Months Ended
Dec. 26, 2024
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 26,
2024		 December 28,
2023
Goodwill, balance at beginning of year $ 257,940  $ 255,473 
Acquisition (1)
—  2,467 
Goodwill, balance at end of year $ 257,940  $ 257,940 
(1)    Reflects goodwill related to the Salesmaster Associates (“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 26, 2024 and December 28, 2023 are as follows:
December 26, 2024 December 28, 2023
in thousands
Gross carrying amount
 Accumulated amortization Net carrying value Gross carrying amount (1) Accumulated amortization Net carrying value
Amortizable intangible assets:
Customer relationships $ 43,216  $ (11,747) $ 31,469  $ 43,216  $ (8,147) $ 35,069 
Non-compete agreement
 300  (235) 65  300  (169) 131 
Total amortizable intangible assets 43,516  (11,982) 31,534  43,516  (8,316) 35,200 
Indefinite-lived intangible assets:
Trade names 118,669  —  118,669  118,669  —  118,669 
Total intangible assets
 $ 162,185  $ (11,982) $ 150,203  $ 162,185  $ (8,316) $ 153,869 
(1)    Refer to Note 15, “Acquisitions” for details related to intangible assets acquired during fiscal 2023.
Customer relationships and the non-compete agreement are amortized over their useful lives of 12 years and five years, respectively. Amortization expense related to amortizable intangible assets was $3.7 million, $3.5 million, and $3.1 million for the fiscal years ended December 26, 2024, December 28, 2023, and December 29, 2022, respectively, and was included within general and administrative expenses on the Company’s Consolidated Statements of Operations and Comprehensive Income.
As of December 26, 2024, the estimated aggregate future amortizable expense related to other intangible assets is as follows:
in thousands Amount
2025 $ 3,667 
2026 3,601 
2027 3,601 
2028 3,601 
2029 3,601 
Thereafter 13,463 
Total $ 31,534