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ACQUISITION (Tables)

3 Months Ended

Mar. 30, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table reflects our preliminary allocation of the purchase price to our best estimate of the fair value of assets acquired and liabilities assumed using information available as of the acquisition date. Our preliminary purchase price allocation may be adjusted as more information becomes available about facts and circumstances that existed as of the acquisition date, including related to the value of acquired intangible assets and settlement of assets and liabilities acquired.

(in thousands)			Purchase price allocation
Purchase price allocated as follows:
Cash and cash equivalents			$	5,042
Accounts receivable			13,735
Prepaid expenses, deposits and other current assets			216
Operating lease right-of-use assets			97
Intangible assets			14,900
Total assets acquired			33,990
Accounts payable and other accrued expenses			2,125
Accrued wages and benefits			10,375
Income tax payable			3,789
Other current liabilities			90
Operating lease liabilities			97
Total liabilities assumed			16,476
Net identifiable assets acquired			17,514
Goodwill (1)			17,572
Total cash consideration transferred			$	35,086

(1) Goodwill represents the expected synergies with our existing businesses, the acquired assembled workforce, potential new clients and future cash flows after the acquisition of HSP, and is deductible for income tax purposes.

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following table sets forth the components of identifiable intangible assets acquired as of January 31, 2025:

(in thousands, except for estimated useful lives, in years)			Estimated fair value			Estimated useful life in years			Valuation Method			Discount Rate
Customer relationships			$	14,250		6			Multi-period excess earnings			17%
Trade names/trademarks			650			7			Relief from royalty			17%
Total acquired identifiable intangible assets			$	14,900

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- Definition

Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination.

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

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