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GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 28, 2024

GOODWILL AND OTHER INTANGIBLE ASSETS

D.GOODWILL AND OTHER INTANGIBLE ASSETS

As described in Note M — Segment Reporting, our segment structure is based upon the markets we serve and goodwill has been allocated to the segments using a relative fair value approach. The changes in the net carrying amount of goodwill by reporting segment for the years ended December 28, 2024 and December 30, 2023, are as follows (in thousands):


	Retail		Packaging		Construction		All Other		Corporate		Total
Balance as of December 31, 2022	$	85,114	$	148,909	$	87,670	$	15,627	$	—	$	337,320
2023 Acquisitions		—		—		—		7,077		—		7,077
2023 Purchase Accounting Adjustments		(979)		(7,867)		—		—		—		(8,846)
Foreign Exchange, Net		69		—		135		558		—		762
Balance as of December 30, 2023	$	84,204	$	141,042	$	87,805	$	23,262	$	—	$	336,313
2024 Acquisitions		—		5,705		—		—		—		5,705
Foreign Exchange, Net		(88)		—		(404)		(1,687)		—		(2,179)
Balance as of December 28, 2024	$	84,116	$	146,747	$	87,401	$	21,575	$	—	$	339,839

As of the date of the most recent goodwill impairment test, which utilized data and assumptions as of September 28, 2024, all reporting units had fair values that were substantially in excess of their carrying values.

Indefinite-lived intangible assets totaled $7.3 million as of December 28, 2024 and December 30, 2023 related to the commercial unit within the Construction segment, the international unit within the All Other segment, and the Deckorators unit within the Retail segment.

The following amounts were included in other amortizable intangible assets, net as of December 28, 2024 and December 30, 2023 (in thousands):


	2024						2023
			Accumulated						Accumulated
	Assets		Amortization		Net Value		Assets		Amortization		Net Value
Non-compete agreements	$	8,908	$	(6,332)	$	2,576	$	9,886	$	(5,966)	$	3,920
Customer relationships and other		165,633		(51,645)		113,988		171,029		(43,403)		127,626
Patents		1,602		(988)		614		1,622		(898)		724
Technology		12,600		(3,406)		9,194		12,600		(2,173)		10,427
Tradename		36,946		(15,085)		21,861		39,831		(12,320)		27,511
Software		8,605		(4,340)		4,265		7,666		(2,679)		4,987
Total	$	234,294	$	(81,796)	$	152,498	$	242,634	$	(67,439)	$	175,195

Amortization is computed principally by the straight-line method over the estimated useful lives of the intangible assets as follows:


		Weighted Average
Intangible Asset Type	Estimated Useful Life	Amortization Period
Non-compete agreements	2 to 15 years	7.7 years
Customer relationships and other	5 to 15 years	10.3 years
Patents	10 years	10 years
Technology	5 to 12 years	11 years
Tradename (amortizable)	5 to 25 years	10.8 years
Software	3 to 5 years	3.1 years

Amortization expense of intangibles totaled $23.5 million, $21.3 million and $19.5 million in 2024, 2023 and 2022, respectively. The estimated amortization expense for intangibles for each of the five succeeding fiscal years is as follows (in thousands):


2025	$	23,222
2026		20,825
2027		19,103
2028		17,942
2029		17,144
Thereafter		54,262
Total	$	152,498