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Goodwill and Other Intangible Assets | 6 Months Ended
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Jul. 17, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 6. GOODWILL AND OTHER INTANGIBLE ASSETS The table below summarizes our goodwill and other intangible assets at July 17, 2021 and January 2, 2021, respectively, each of which is explained in additional detail below (amounts in thousands):
|  | July 17, 2021 |  |  | January 2, 2021 |
Goodwill |  | $ | 545,244 |  |  | $ | 545,244 |
Amortizable intangible assets, net of amortization |  |  | 582,551 |  |  |  | 587,818 |
Indefinite-lived intangible assets |  |  | 127,100 |  |  |  | 127,100 |
Total goodwill and other intangible assets |  | $ | 1,254,895 |  |  | $ | 1,260,162 |
As of July 17, 2021 and January 2, 2021, respectively, the company had the following amounts related to amortizable intangible assets (amounts in thousands):
|  | July 17, 2021 |  |  | January 2, 2021 |
Asset |  | Cost |  |  | Accumulated Amortization |  |  | Net Value |  |  | Cost |  |  | Accumulated Amortization |  |  | Net Value |
Trademarks |  | $ | 477,114 |  |  | $ | 71,366 |  |  | $ | 405,748 |  |  | $ | 466,915 |  |  | $ | 64,426 |  |  | $ | 402,489 |
Customer relationships |  |  | 318,021 |  |  |  | 144,100 |  |  |  | 173,921 |  |  |  | 318,021 |  |  |  | 135,068 |  |  |  | 182,953 |
Non-compete agreements |  |  | 5,154 |  |  |  | 5,055 |  |  |  | 99 |  |  |  | 5,154 |  |  |  | 5,034 |  |  |  | 120 |
Distributor relationships |  |  | 4,123 |  |  |  | 3,271 |  |  |  | 852 |  |  |  | 4,123 |  |  |  | 3,123 |  |  |  | 1,000 |
Distributor routes held and used |  |  | 2,233 |  |  |  | 302 |  |  |  | 1,931 |  |  |  | 1,377 |  |  |  | 121 |  |  |  | 1,256 |
Total |  | $ | 806,645 |  |  | $ | 224,094 |  |  | $ | 582,551 |  |  | $ | 795,590 |  |  | $ | 207,772 |  |  | $ | 587,818 |
Aggregate amortization expense for the twelve and twenty-eight weeks ended July 17, 2021 and July 11, 2020 was as follows (amounts in thousands):
|  | Amortization Expense |
For the twelve weeks ended July 17, 2021 |  | $ | 7,079 |
For the twelve weeks ended July 11, 2020 |  | $ | 7,115 |
For the twenty-eight weeks ended July 17, 2021 |  | $ | 16,322 |
For the twenty-eight weeks ended July 11, 2020 |  | $ | 16,658 |
Estimated amortization of intangibles for each of the next five years is as follows (amounts in thousands):
|  | Amortization of Intangibles |
Remainder of 2021 |  | $ | 14,723 |
2022 |  | $ | 31,461 |
2023 |  | $ | 30,580 |
2024 |  | $ | 29,884 |
2025 |  | $ | 29,176 |
The company acquired trademarks for $10.2 million during the second quarter of Fiscal 2021. These trademarks are being amortized over their estimated useful life. There were $127.1 million of indefinite-lived intangible trademark assets separately identified from goodwill at July 17, 2021 and January 2, 2021. These trademarks are classified as indefinite-lived because we believe they are well established brands with a long history and well-defined markets. In addition, we are continuing to use these brands both in their original markets and throughout our expansion territories. We believe these factors support an indefinite-life. We perform an annual impairment analysis, or on an interim basis if the facts and circumstances change, to determine if the trademarks are realizing their expected economic benefits.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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