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GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended
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Jul. 02, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The balances and changes in the carrying amount of Goodwill attributable to each segment were as follows:
(dollars in thousands) | U.S. Retail |  | U.S. Wholesale |  | International |  | Total
Balance at January 2, 2021 | $ | 83,934 |  |  | $ | 74,454 |  |  | $ | 53,388 |  |  | $ | 211,776 |
Foreign currency impact | — |  |  | — |  |  | 1,419 |  |  | 1,419 |
Balance at July 3, 2021(*) | $ | 83,934 |  |  | $ | 74,454 |  |  | $ | 54,807 |  |  | $ | 213,195 |
Balance at January 1, 2022 | $ | 83,934 |  |  | $ | 74,454 |  |  | $ | 53,635 |  |  | $ | 212,023 |
Foreign currency impact | — |  |  | — |  |  | (776) |  |  | (776) |
Balance at July 2, 2022(*) | $ | 83,934 |  |  | $ | 74,454 |  |  | $ | 52,859 |  |  | $ | 211,247 |
(*)Goodwill for the International reporting unit is net of accumulated impairment losses of $17.7 million. A summary of the carrying value of the Company’s intangible assets were as follows:
|  |  | July 2, 2022 |  | January 1, 2022
(dollars in thousands) | Weighted-average useful life |  | Gross amount |  | Accumulated amortization |  | Net amount |  | Gross amount |  | Accumulated amortization |  | Net amount
Carter’s tradename | Indefinite |  | $ | 220,233 |  |  | $ | — |  |  | $ | 220,233 |  |  | $ | 220,233 |  |  | $ | — |  |  | $ | 220,233 |
OshKosh tradename | Indefinite |  | 70,000 |  |  | — |  |  | 70,000 |  |  | 70,000 |  |  | — |  |  | 70,000 |
Skip Hop tradename | Indefinite |  | 15,000 |  |  | — |  |  | 15,000 |  |  | 15,000 |  |  | — |  |  | 15,000 |
Finite-life tradenames | 5-20 years |  | 3,911 |  |  | 1,626 |  |  | 2,285 |  |  | 3,911 |  |  | 1,501 |  |  | 2,410 |
Total tradenames, net |  |  | $ | 309,144 |  |  | $ | 1,626 |  |  | $ | 307,518 |  |  | $ | 309,144 |  |  | $ | 1,501 |  |  | $ | 307,643 |
Skip Hop customer relationships | 15 years |  | $ | 47,300 |  |  | $ | 16,598 |  |  | $ | 30,702 |  |  | $ | 47,300 |  |  | $ | 15,010 |  |  | $ | 32,290 |
Carter’s Mexico customer relationships | 10 years |  | 3,066 |  |  | 1,520 |  |  | 1,546 |  |  | 3,047 |  |  | 1,368 |  |  | 1,679 |
Total customer relationships, net |  |  | $ | 50,366 |  |  | $ | 18,118 |  |  | $ | 32,248 |  |  | $ | 50,347 |  |  | $ | 16,378 |  |  | $ | 33,969 |
|  |  | July 3, 2021
(dollars in thousands) | Weighted-average useful life |  | Gross amount |  | Accumulated amortization |  | Net amount
Carter’s tradename | Indefinite |  | $ | 220,233 |  |  | $ | — |  |  | $ | 220,233 |
OshKosh tradename | Indefinite |  | 70,000 |  |  | — |  |  | 70,000 |
Skip Hop tradename | Indefinite |  | 15,000 |  |  | — |  |  | 15,000 |
Finite-life tradenames | 5-20 years |  | 3,911 |  |  | 1,376 |  |  | 2,535 |
Total tradenames, net |  |  | $ | 309,144 |  |  | $ | 1,376 |  |  | $ | 307,768 |
Skip Hop customer relationships | 15 years |  | $ | 47,300 |  |  | $ | 13,422 |  |  | $ | 33,878 |
Carter’s Mexico customer relationships | 10 years |  | 3,116 |  |  | 1,217 |  |  | 1,899 |
Total customer relationships, net |  |  | $ | 50,416 |  |  | $ | 14,639 |  |  | $ | 35,777 |
Amortization expense for intangible assets subject to amortization was approximately $0.9 million for both the second quarter of fiscal 2022 and the second quarter of fiscal 2021. Amortization expense was approximately $1.9 million for both the first two quarters of fiscal 2022 and the first two quarters of fiscal 2021. The estimated amortization expense for the next five fiscal years is as follows:
(dollars in thousands) | Amortization expense
Remainder of 2022 | $ | 1,865 |
2023 | $ | 3,688 |
2024 | $ | 3,658 |
2025 | $ | 3,658 |
2026 | $ | 3,658 |
2027 | $ | 3,532 |

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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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