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GOODWILL AND INTANGIBLE ASSETS (Note)
 12 Months Ended
Dec. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
Goodwill
The following table reflects changes in the carrying amount of goodwill during the period by reportable segments:
(in thousands)PeopleReadyPeopleManagementPeopleScoutTotal company
Balance atDecember 29, 2019
Goodwill before impairment$106,304 $81,092 $145,181 $332,577 
Accumulated impairment charge(46,210)(33,700)(15,169)(95,079)
Goodwill, net60,094 47,392 130,012 237,498 
Impairment charge— (45,901)(94,588)(140,489)
Foreign currency translation— — (2,136)(2,136)
Balance atDecember 27, 2020
Goodwill before impairment106,304 81,092 143,045 330,441 
Accumulated impairment charge(46,210)(79,601)(109,757)(235,568)
Goodwill, net60,094 1,491 33,288 94,873 
Foreign currency translation— — (335)(335)
Balance atDecember 26, 2021
Goodwill before impairment106,304 81,092 142,710 330,106 
Accumulated impairment charge(46,210)(79,601)(109,757)(235,568)
Goodwill, net$60,094 $1,491 $32,953 $94,538 
Intangible assets
Finite-lived intangible assets
The following table presents our purchased finite-lived intangible assets:
 December 26, 2021December 27, 2020
(in thousands)Gross carrying amountAccumulated
amortization		Net
carrying
amount		Gross carrying amountAccumulated
amortization		Net
carrying
amount
Finite-lived intangible assets (1):
Customer relationships$102,016 $(87,134)$14,882 $113,382 $(91,956)$21,426 
Trade names/trademarks2,066 (737)1,329 2,088 (585)1,503 
Total finite-lived intangible assets$104,082 $(87,871)$16,211 $115,470 $(92,541)$22,929 
(1)Excludes assets that are fully amortized. Balances at December 27, 2020 are net of impairment charge of $34.7 million.
Amortization expense of our finite-lived intangible assets was $6.7 million, $10.1 million and $17.9 million for the fiscal years ended December 26, 2021, December 27, 2020 and December 29, 2019, respectively.
The following table provides the estimated future amortization of finite-lived intangible assets as of December 26, 2021:
(in thousands)
2022$5,786 
20235,132 
20244,158 
2025326 
2026125 
Thereafter684 
Total future amortization$16,211 
Indefinite-lived intangible assets
We also held indefinite-lived trade names/trademarks of $6.0 million as of December 26, 2021 and December 27, 2020.
Impairments
Determining the fair value of a reporting unit is judgmental in nature and involves the use of significant estimates and assumptions to evaluate the impact of operating and macroeconomic changes on each reporting unit. The fair value of each reporting unit is estimated using a combination of a discounted cash flow methodology and the market valuation approach using publicly traded company multiples in similar businesses. This analysis requires significant judgments, including estimation of future cash flows, which is dependent on internally developed forecasts, estimation of the long-term rate of growth for our business, estimation of the useful life over which cash flows would occur, and determination of our weighted average cost of capital, which is risk-adjusted to reflect the specific risk profile of the reporting unit being tested.
There were no goodwill or intangible asset impairment charges recorded during fiscal 2021 or 2019.
2020 impairments
Goodwill
During the fiscal year ended December 27, 2020, we recorded a non-cash impairment charge of $140.5 million, which was included in goodwill and intangible asset impairment charge on our Consolidated Statements of Operations and Comprehensive Income (Loss). The goodwill carrying value of $45.9 million for our PeopleManagement On-Site reporting unit was fully impaired. The goodwill impairment charge for PeopleScout RPO and PeopleScout MSP was $92.2 million and $2.4 million, respectively. The charge was primarily the result of expected continued weakness in pricing and demand for our staffing services in a volatile economic climate, which resulted in a decline in our stock price. The decline in stock price pushed our market capitalization significantly below the recorded value of our consolidated net assets. This was further impacted by COVID-19, which created a significant drop in client demand. The weighted average cost of capital used ranged from 11.5% to 12.0%. The combined fair values for all reporting units were then reconciled to our aggregate market value of our shares of common stock on the date of valuation, while considering a reasonable control premium. The remaining goodwill balances for PeopleScout RPO and PeopleScout MSP was $23.6 million and $9.7 million, respectively, as of December 27, 2020.
Finite-lived intangible assets
During the fiscal year ended December 27, 2020, we recorded a non-cash impairment charge for our PeopleScout RPO and PeopleManagement On-Site client relationship intangible assets of $34.7 million, which was included in goodwill and intangible asset impairment charge on our Consolidated Statements of Operations and Comprehensive Income (Loss). The charge was primarily due to the decrease in demand for our services associated with government and societal actions taken to address the impact of COVID-19, which resulted in lower future expectations. The impairment charge for PeopleScout RPO and PeopleManagement On-Site client relationship intangible assets was $25.0 million and $9.7 million, respectively. The remaining client relationship intangible asset balances related to assets impaired for PeopleScout RPO and PeopleManagement On-Site was $5.1 million and $7.2 million, respectively, as of December 27, 2020. Considerable management judgment was necessary to determine key assumptions, including projected revenue of acquired clients and an appropriate discount rate of 12.0%.