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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill are presented as follows:
Carrying amount as of December 30, 2022 | $ | 287,120 |
Goodwill adjustments | 1,859 |
Acquisitions | 66,940 |
Foreign currency translation | 102 |
Carrying amount as of December 29, 2023 | 356,021 |
Goodwill adjustments | 656 |
Foreign currency translation | (379) |
Carrying amount as of December 27, 2024 | $ | 356,298 |
The goodwill adjustments included in the table above represent measurement period adjustments related to certain acquisitions completed in prior years. Other intangible assets as of December 27, 2024 and December 29, 2023 consisted of the following:
|  | Weighted Average Remaining Amortization Period |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Amount
December 27, 2024 |  |  |  |  |  |  |  |
Customer relationships |  | 88 months |  | $ | 251,932 |  |  | $ | (122,619) |  |  | $ | 129,313 |
Trademarks |  | 140 months |  | 56,184 |  |  | (25,212) |  |  | 30,972 |
Non-compete agreements |  | 11 months |  | 9,299 |  |  | (9,201) |  |  | 98 |
Total |  |  |  | $ | 317,415 |  |  | $ | (157,032) |  |  | $ | 160,383 |
December 29, 2023 |  |  |  |  |  |  |  |
Customer relationships |  | 100 months |  | $ | 251,967 |  |  | $ | (103,042) |  |  | $ | 148,925 |
Trademarks |  | 147 months |  | 56,257 |  |  | (20,857) |  |  | 35,400 |
Non-compete agreements |  | 18 months |  | 9,299 |  |  | (8,761) |  |  | 538 |
Total |  |  |  | $ | 317,523 |  |  | $ | (132,660) |  |  | $ | 184,863 |
During fiscal 2023, the Company recognized a customer relationships intangible asset impairment charge of $1,838, $1,333 net of tax, related to the loss of a significant Hardie’s customer post acquisition. The Company’s valuation of the Hardie’s customer list intangible asset as of the acquisition date, a Level 3 measurement, was based on an income approach using the excess earnings method which requires significant assumptions including future sales forecasts and a discount rate. The impairment charge was measured by reducing its assumption of future sales for the significant customer lost post-acquisition to zero. The impairment charge is presented within other operating expense s on the consolidated statements of operations. Amortization expense for other intangibles was $24,372, $22,719 and $13,913 for the fiscal years ended December 27, 2024, December 29, 2023 and December 30, 2022, respectively. As of December 27, 2024, estimated amortization expense for other intangible assets for each of the next five fiscal years and thereafter is as follows:
2025 | $ | 24,243 |
2026 | 23,607 |
2027 | 22,776 |
2028 | 19,869 |
2029 | 17,810 |
Thereafter | 52,078 |
Total | $ | 160,383 |

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- 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
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