XML 43 R32.htm IDEA: XBRL DOCUMENT v3.22.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 12 Months Ended
Jan. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The balances and changes in the carrying amount of goodwill attributable to each segment were as follows:
(dollars in thousands)U.S. RetailU.S. WholesaleInternationalTotal
Balance at December 28, 2019$83,934 $74,454 $70,638 $229,026 
Goodwill impairment(1)
— — (17,742)(17,742)
Foreign currency impact— — 492 492 
Balance at January 2, 2021$83,934 $74,454 $53,388 $211,776 
Foreign currency impact— — 247 247 
Balance at January 1, 2022(2)
$83,934 $74,454 $53,635 $212,023 
(1)In the first quarter of fiscal 2020, a charge of $17.7 million was recorded to reflect the impairment of the value ascribed to the goodwill in the Other International reporting unit in the International segment.
(2)Goodwill for the International reporting unit is net of accumulated impairment losses of $17.7 million.
Tradename and Intangible Assets
A summary of the carrying value of the Company’s intangible assets were as follows:
January 1, 2022January 2, 2021
(dollars in thousands)Weighted-average useful lifeGross amountAccumulated amortizationNet amountGross amountAccumulated amortizationNet amount
Carter’s tradename    
Indefinite$220,233 $— $220,233 $220,233 $— $220,233 
OshKosh tradename(1)
Indefinite70,000 — 70,000 70,000 — 70,000 
Skip Hop tradename(2)
Indefinite15,000 — 15,000 15,000 — 15,000 
Finite-life tradenames
5 - 20 years
3,911 1,501 2,410 3,911 1,251 2,660 
Total tradenames, net$309,144 $1,501 $307,643 $309,144 $1,251 $307,893 
Skip Hop customer relationships15 years$47,300 $15,010 $32,290 $47,300 $11,834 $35,466 
Carter’s Mexico customer relationships10 years3,047 1,368 1,679 3,108 1,064 2,044 
Total customer relationships, net$50,347 $16,378 $33,969 $50,408 $12,898 $37,510 
(1)In fiscal 2020, a charge of $13.6 million, $1.6 million, and $0.3 million was recorded on our indefinite-lived OshKosh tradename asset in the U.S. Retail, U.S. Wholesale, and International segments, respectively, to reflect the impairment of the value ascribed to the indefinite-lived OshKosh tradename asset.
(2)In fiscal 2020, a charge of $6.8 million, $3.7 million, and $0.5 million was recorded on our indefinite-lived Skip Hop tradename asset in the U.S. Wholesale, International, and U.S. Retail segments, respectively, to reflect the impairment of the value ascribed to the indefinite-lived Skip Hop tradename asset.
Future Amortization Expense
The estimated amortization expense for the next five fiscal years is as follows:
(dollars in thousands)Amortization expense
2022$3,727 
2023$3,685 
2024$3,655 
2025$3,655 
2026$3,655