XML 21 R10.htm IDEA: XBRL DOCUMENT v3.25.1
GOODWILL AND INTANGIBLE ASSETS
3 Months Ended
Mar. 30, 2025
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 segment:
(in thousands)PeopleReadyPeopleManagement
PeopleSolutions
Total company
Balance atDecember 29, 2024
Goodwill before impairment$105,284 $81,092 $141,694 $328,070 
Accumulated impairment charge(105,284)(79,601)(118,642)(303,527)
Goodwill
— 1,491 23,052 24,543 
Acquired goodwill (1)— — 17,572 17,572 
Foreign currency translation— — 166 166 
Balance atMarch 30, 2025
Goodwill before impairment105,284 81,092 159,432 345,808 
Accumulated impairment charge(105,284)(79,601)(118,642)(303,527)
Goodwill
$— $1,491 $40,790 $42,281 
(1)Effective January 31, 2025, the company acquired Healthcare Staffing Professionals, Inc. The goodwill associated with the acquisition has been assigned to the HSP reporting unit, and included within the PeopleSolutions reportable segment (previously known as PeopleScout) based on our preliminary purchase price allocation. Refer to Note 2: Acquisition for additional details.
Intangible assets
Finite-lived intangible assets
The following table presents our purchased finite-lived intangible assets:
 March 30, 2025December 29, 2024
(in thousands)Gross carrying amountAccumulated
amortization
Net
carrying
amount
Gross carrying amountAccumulated
amortization
Net
carrying
amount
Finite-lived intangible assets (1):
Customer relationships$16,970 $(2,887)$14,083 $2,637 $(2,448)$189 
Trade names/trademarks2,334 (825)1,509 1,632 (758)874 
Total finite-lived intangible assets$19,304 $(3,712)$15,592 $4,269 $(3,206)$1,063 
(1)Excludes assets that are fully amortized.
The gross carrying amounts as of March 30, 2025 include preliminary fair valuation of customer relationships and trade names/trademarks of $14.3 million and $0.7 million, respectively, related to the acquisition of HSP. Refer to Note 2: Acquisition for additional details.
Amortization expense of our finite-lived intangible assets was $0.4 million and $1.5 million for the thirteen weeks ended March 30, 2025 and March 31, 2024, respectively.
Indefinite-lived intangible assets
We held indefinite-lived trade names/trademarks of $4.8 million as of March 30, 2025 and December 29, 2024, related to brands within our PeopleManagement and PeopleSolutions segments.