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Note 8 - Intangible Assets | 3 Months Ended
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Apr. 03, 2021
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] |
| 8. | Intangible Assets
The Company evaluates long-lived assets and intangible assets with definite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When the Company determines that it is probable that undiscounted future cash flows will not be sufficient to recover an asset's carrying amount, the asset is written down to its fair value. Assets to be disposed of by sale, if any, are reported at the lower of the carrying amount or fair value less cost to sell. The Company's intangible assets consist of customer relationships and non-compete agreements. During the thirteen week period ended April 3, 2021, the Company reviewed the carrying value of its intangible assets due to the events and circumstances surrounding the COVID- 19 pandemic. While COVID- 19 has negatively impacted the Company, and the Company expects this negative impact to continue at least through the balance of fiscal 2021, the Company does not believe at this time that this negative impact is permanent. As such, no impairment loss on the Company's intangible assets during the thirteen week period ended April 3, 2021 was recorded as a result of such review. All of the Company's intangible assets are associated with the Engineering segment. Intangible assets other than goodwill are amortized over their useful lives. Intangible assets are carried at cost, less accumulated amortization. Details of intangible assets by class at April 3, 2021 and January 2, 2021:
|  | April 3, 2021 |  |  | January 2, 2021 |
Restricted covenants |  | $ | 8 |  |  | $ | 12 |
Customer relationships |  |  | 7 |  |  |  | 83 |
Total intangible assets |  | $ | 15 |  |  | $ | 95 |
Amortization expense of acquired intangible assets for both of the thirteen week periods ended April 3, 2021 and March 28, 2020 was $80.

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- Definition The entire disclosure for all or part of the information related to 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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