XML 34 R15.htm IDEA: XBRL DOCUMENT
v3.24.3

Goodwill And Other Intangible Assets | 12 Months Ended
--- | ---
Sep. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 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. The Company performs its assessment of goodwill at the reporting unit level, which is an operating segment or one level below the operating segment. The Company performs its annual impairment test as of the end of the fiscal month of August. If results of the qualitative assessment indicate a more likely than not determination or if a qualitative assessment is not performed, a quantitative test is performed by comparing the estimated fair value, calculated using a discounted cash flow method or market based method, of each reporting unit with its estimated net book value. During the fourth quarter of fiscal 2024, the Company performed the annual impairment test for goodwill for each of the reporting units using a quantitative testing approach. The Company compared the estimated fair value using a discounted cash flow method of each reporting unit or market based method for certain reporting units with its book value. Based on the evaluation performed, the Company determined that the fair value of each of the reporting units significantly exceeded its respective carrying amount, and therefore, the Company determined that goodwill was not impaired. The determination of fair value for each reporting unit includes assumptions, which are considered Level 3 inputs, that are subject to risk and uncertainty. The discounted cash flow calculations are dependent on several subjective factors including the timing of future cash flows and the underlying margin projection assumptions, future growth rates and the discount rate. If assumptions or estimates in the fair value calculations change or if future cash flows or future growth rates vary from what was expected, this may impact the impairment analysis and could reduce the underlying cash flows used to estimate fair values and result in a decline in fair value that may trigger future impairment charges. Changes in total goodwill during fiscal 2024 are of the following (in thousands):
Segment | September 29, 2023 |  | Acquisitions |  |  |  | Translation & Other |  | September 27, 2024
FSS United States | $ | 4,164,392 |  |  | $ | 20,128 |  |  |  |  | $ | 27 |  |  | $ | 4,184,547 |
FSS International | 451,594 |  |  | 21,490 |  |  |  |  | 19,570 |  |  | 492,654 |
| $ | 4,615,986 |  |  | $ | 41,618 |  |  |  |  | $ | 19,597 |  |  | $ | 4,677,201 |
Other intangible assets consist of (in thousands):
| September 27, 2024 |  | September 29, 2023
| Gross Amount |  | Accumulated Amortization |  | Net Amount |  | Gross Amount |  | Accumulated Amortization |  | Net Amount
Customer relationship assets | $ | 1,168,108 |  |  | $ | (521,102) |  |  | $ | 647,006 |  |  | $ | 1,116,771 |  |  | $ | (433,741) |  |  | $ | 683,030 |
Trade names | 1,197,486 |  |  | (39,890) |  |  | 1,157,596 |  |  | 1,137,535 |  |  | (16,092) |  |  | 1,121,443 |
| $ | 2,365,594 |  |  | $ | (560,992) |  |  | $ | 1,804,602 |  |  | $ | 2,254,306 |  |  | $ | (449,833) |  |  | $ | 1,804,473 |
During fiscal 2024, the Company acquired customer relationship assets and trade names with values of $43.4 million and $55.3 million, respectively. During fiscal 2023, the Company acquired customer relationship assets and trade names with values of $20.7 million and $14.5 million, respectively. Customer relationship assets are being amortized principally on a straight-line basis over the expected period of benefit with a weighted average life of approximately 14 years. The majority of trade names, which include the Aramark and Avendra trade names, are indefinite lived intangible assets and are not amortized, but are evaluated for impairment at least annually or more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. The Company utilized the "relief-from-royalty" method, which considers the discounted estimated royalty payments that are expected to be avoided as a result of the trade names being owned. The Company completed its annual trade name impairment test for fiscal 2024, which did not result in an impairment charge. Amortization of other intangible assets for fiscal 2024, fiscal 2023 and fiscal 2022 was $107.1 million, $89.5 million and $82.8 million, respectively. Based on the recorded balances at September 27, 2024, total estimated amortization of all acquisition-related intangible assets for fiscal years 2025 through 2029 are as follows (in thousands):
2025 | $ | 113,655 |
2026 | 109,260 |
2027 | 88,866 |
2028 | 81,728 |
2029 | 79,003 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration