XML 25 R12.htm IDEA: XBRL DOCUMENT v3.25.2
GOODWILL & INTANGIBLE ASSETS
 6 Months Ended
Jun. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL & INTANGIBLE ASSETS GOODWILL & INTANGIBLE ASSETS
The Company has one reporting unit for goodwill which is evaluated for impairment annually in the fourth quarter of each fiscal year. No impairment charges were recognized for goodwill or indefinite-lived intangible assets for the quarter and two quarters ended June 29, 2025 and June 30, 2024.

Intangible assets, net consisted of the following (in thousands):
As of June 29, 2025
Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Indefinite-lived intangible assets:
Trade names$223,925 $— $223,925 
Intangible subject to amortization:
Recipes56,117 (31,372)24,745 
$280,042 $(31,372)$248,670 

As of December 29, 2024
Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Indefinite-lived intangible assets:
Trade names$223,925 $— $223,925 
Intangible subject to amortization:
Recipes56,117 (30,019)26,098 
$280,042 $(30,019)$250,023 

Amortization expense was $0.7 million and $1.4 million for the quarter and two quarters ended June 29, 2025 and June 30, 2024, respectively,
and is included in depreciation and amortization in the condensed consolidated statements of operations.

The estimated aggregate amortization expense related to intangible assets held at June 29, 2025 for the remainder of this year and the succeeding five years and thereafter is as follows (in thousands):
Estimated Amortization
2025 (excluding the two quarters ended June 29, 2025)
$1,354 
2026
2,707 
2027
2,707 
2028
2,707 
2029
2,150 
2030
1,369 
2031 and thereafter
11,751 
$24,745