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Goodwill and Intangible Assets | 6 Months Ended
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Jul. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | F. Goodwill and Intangible Assets No impairment of goodwill was recorded in any period. The Company’s intangible assets as of July 1, 2023 and December 31, 2022 were as follows:
|  |  |  |  | As of July 1, 2023 |  |  | As of December 31, 2022 |
|  | Estimated Useful |  |  | Gross Carrying |  |  | Accumulated |  |  | Net Book |  |  | Gross Carrying |  |  | Accumulated |  |  | Net Book |
|  | Life (Years) |  |  | Value |  |  | Amortization |  |  | Value |  |  | Value |  |  | Amortization |  |  | Value |
|  |  |  |  |  |  |  |  |  |  | (in thousands) |  |  |  |  |  |  |  |  |  |
Customer relationships |  |  | 15 |  |  | $ | 3,800 |  |  | $ | (1,013 | ) |  | $ | 2,787 |  |  | $ | 3,800 |  |  | $ | (886 | ) |  | $ | 2,914 |
Trade names |  | Indefinite |  |  |  | 73,410 |  |  |  | — |  |  |  | 73,410 |  |  |  | 73,410 |  |  |  | — |  |  |  | 73,410 |
Total intangible assets, net |  |  |  |  | $ | 77,210 |  |  | $ | (1,013 | ) |  | $ | 76,197 |  |  | $ | 77,210 |  |  | $ | (866 | ) |  | $ | 76,324 |
Amortization expense in the thirte en and twenty-six weeks ended July 1, 2023 was approximately $63,000 and $127,000, respectively. The Company expects to record amortization expense as follows:
Fiscal Year |  | Amount (in thousands) |
Remainder of 2023 |  | $ | 127 |
2024 |  |  | 253 |
2025 |  |  | 253 |
2026 |  |  | 253 |
2027 |  |  | 253 |
2028 |  |  | 253 |
Thereafter |  |  | 1,395 |
Total amortization expense |  | $ | 2,787 |

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