XML 28 R18.htm IDEA: XBRL DOCUMENT
v3.25.1

Goodwill, Customer Relationships, Finite-Lived and Indefinite-Lived Trademarks, and Other Intangible Assets | 4 Months Ended
--- | ---
Apr. 19, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill, Customer Relationships, Finite-Lived and Indefinite-Lived Trademarks, and Other Intangible Assets | 8. GOODWILL, CUSTOMER RELATIONSHIPS, FINITE-LIVED AND INDEFINITE-LIVED TRADEMARKS, AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill during the sixteen weeks ended April 19, 2025, during which time we completed the acquisition of Simple Mills, are as follows (amounts in thousands):
|  | Total |
Balance as of December 28, 2024 |  | $ | 679,896 |
Acquisition (see Note 5, Acquisition) |  |  | 386,887 |
Balance as of April 19, 2025 |  | $ | 1,066,783 |
On February 21, 2025, the company completed the acquisition of Simple Mills for total consideration of approximately $848.5 million. The acquisition included an amortizable intangible asset of $173.1 million and is included in the customer relationships line in the table below. See Note 5, Acquisition, for details of the assets and the respective amortization period by category. As of April 19, 2025 and December 28, 2024, respectively, the company had the following amounts related to amortizable intangible assets (amounts in thousands):
|  | April 19, 2025 |  |  | December 28, 2024 |
Asset |  | Cost |  |  | Accumulated Amortization |  |  | Net Value |  |  | Cost |  |  | Accumulated Amortization |  |  | Net Value |
Trademarks |  | $ | 481,715 |  |  | $ | 127,002 |  |  | $ | 354,713 |  |  | $ | 481,715 |  |  | $ | 122,432 |  |  | $ | 359,283 |
Customer relationships |  |  | 513,321 |  |  |  | 206,505 |  |  |  | 306,816 |  |  |  | 340,221 |  |  |  | 200,549 |  |  |  | 139,672 |
Non-compete agreements |  |  | 5,454 |  |  |  | 5,304 |  |  |  | 150 |  |  |  | 5,454 |  |  |  | 5,281 |  |  |  | 173 |
Distributor relationships |  |  | 4,123 |  |  |  | 4,014 |  |  |  | 109 |  |  |  | 4,123 |  |  |  | 3,982 |  |  |  | 141 |
Total |  | $ | 1,004,613 |  |  | $ | 342,825 |  |  | $ | 661,788 |  |  | $ | 831,513 |  |  | $ | 332,244 |  |  | $ | 499,269 |
Aggregate amortization expense for the sixteen weeks ended April 19, 2025 and April 20, 2024 was as follows (amounts in thousands):
|  | Amortization Expense |
For the sixteen weeks ended April 19, 2025 |  | $ | 10,581 |
For the sixteen weeks ended April 20, 2024 |  | $ | 9,716 |
Estimated amortization of intangibles for each of the next five years is as follows (amounts in thousands):
|  | Amortization of Intangibles |
Remainder of 2025 |  | $ | 30,435 |
2026 |  | $ | 41,797 |
2027 |  | $ | 39,614 |
2028 |  | $ | 37,452 |
2029 |  | $ | 34,719 |
There were $461.4 million and $127.1 million of indefinite-lived intangible trademark assets separately identified from goodwill at April 19, 2025 and December 28, 2024, respectively. The increase was due to the trademark acquired in the Simple Mills acquisition. These trademarks are classified as indefinite-lived because we believe they are well-established brands with a long history and well-defined markets. 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.

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