Goodwill and Other Intangible Assets

9 Months Ended

Jul. 02, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS:

Goodwill represents the excess of the fair value of consideration paid for an acquired entity over the fair value of assets acquired and liabilities assumed in a business combination. Goodwill is not amortized and is subject to an impairment test that the Company conducts annually or more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists, using discounted cash flows.

Changes in total goodwill during the nine months ended July 2, 2021 are as follows (in thousands):


Segment	October 2, 2020		Acquisitions		Translation		July 2, 2021
FSS United States	$	3,953,332	$	130,554	$	90	$	4,083,976
FSS International	426,118		—		19,328		445,446
Uniforms	964,378		27		756		965,161
	$	5,343,828	$	130,581	$	20,174	$	5,494,583

During the nine months ended June 26, 2020, the Company recognized a $198.6 million impairment charge related to one reporting unit in its FSS International segment on the Condensed Consolidated Statements of Income (Loss).

Other intangible assets consist of the following (in thousands):


	July 2, 2021						October 2, 2020
	Gross Amount		Accumulated Amortization		Net Amount		Gross Amount		Accumulated Amortization		Net Amount
Customer relationship assets	$	2,105,334	$	(1,143,813)	$	961,521	$	2,195,700	$	(1,308,002)	$	887,698
Trade names	1,106,613		(3,858)		1,102,755		1,052,744		(7,805)		1,044,939
	$	3,211,947	$	(1,147,671)	$	2,064,276	$	3,248,444	$	(1,315,807)	$	1,932,637

Amortization of intangible assets for the nine months ended July 2, 2021 and June 26, 2020 was approximately $85.9 million and $87.4 million, respectively.