| Goodwill and Other Intangibles, Net |
Note 4 —Goodwill and Other Intangibles, Net
Goodwill
The carrying amount of goodwill for the periods ended January 2, 2021, October 3, 2020, and December 28, 2019 were as follows (in thousands):
|
Balance, January 2, 2021
|
|
$
|
93,295
|
|
|
Balance, October 3, 2020
|
|
$
|
93,295
|
|
|
Balance, December 28, 2019
|
|
$
|
92,821
|
|
Other Intangible Assets
Our other intangible assets are as follows as of January 2, 2021:
|
|
|
Weighted
Average
Remaining
Useful Life
|
|
|
Gross
Carrying
Value
|
|
|
Accumulated
Amortization
|
|
|
Net
Carrying
Amount
|
|
|
|
|
(In years)
|
|
|
(In thousands)
|
|
|
Trade name and trademarks (finite life)
|
|
|
2.4
|
|
|
$
|
5,540
|
|
|
$
|
(5,167
|
)
|
|
$
|
373
|
|
|
Trade name and trademarks (indefinite life)
|
|
Indefinite
|
|
|
|
17,750
|
|
|
|
—
|
|
|
|
17,750
|
|
|
Non-compete agreements
|
|
|
4.5
|
|
|
|
8,633
|
|
|
|
(6,958
|
)
|
|
|
1,675
|
|
|
Consumer relationships
|
|
|
3.6
|
|
|
|
17,200
|
|
|
|
(10,485
|
)
|
|
|
6,715
|
|
|
Internally developed software
|
|
|
2.6
|
|
|
|
4,000
|
|
|
|
(3,482
|
)
|
|
|
518
|
|
|
Other
|
|
|
1.3
|
|
|
|
1,000
|
|
|
|
(967
|
)
|
|
|
33
|
|
|
Total
|
|
|
|
|
|
$
|
54,123
|
|
|
$
|
(27,059
|
)
|
|
$
|
27,064
|
|
Our other intangible assets are as follows as of October 3, 2020:
|
|
|
Weighted
Average
Remaining
Useful Life
|
|
|
Gross
Carrying
Value
|
|
|
Accumulated
Amortization
|
|
|
Net
Carrying
Amount
|
|
|
|
|
(In years)
|
|
|
(In thousands)
|
|
|
Trade name and trademarks (finite life)
|
|
|
2.6
|
|
|
$
|
5,540
|
|
|
$
|
(5,139
|
)
|
|
$
|
401
|
|
|
Trade name and trademarks (indefinite life)
|
|
Indefinite
|
|
|
|
17,750
|
|
|
|
—
|
|
|
|
17,750
|
|
|
Non-compete agreements
|
|
|
4.9
|
|
|
|
8,633
|
|
|
|
(6,872
|
)
|
|
|
1,761
|
|
|
Consumer relationships
|
|
|
3.8
|
|
|
|
17,200
|
|
|
|
(10,118
|
)
|
|
|
7,082
|
|
|
Internally developed software
|
|
|
2.9
|
|
|
|
4,000
|
|
|
|
(3,434
|
)
|
|
|
566
|
|
|
Other
|
|
|
1.6
|
|
|
|
1,000
|
|
|
|
(958
|
)
|
|
|
42
|
|
|
Total
|
|
|
|
|
|
$
|
54,123
|
|
|
$
|
(26,521
|
)
|
|
$
|
27,602
|
|
Our other intangible assets are as follows as of December 28, 2019:
|
|
|
Weighted
Average
Remaining
Useful Life
|
|
|
Gross
Carrying
Value
|
|
|
Accumulated
Amortization
|
|
|
Net
Carrying
Amount
|
|
|
|
|
(In years)
|
|
|
(In thousands)
|
|
|
Trade name and trademarks (finite life)
|
|
|
2.3
|
|
|
$
|
5,540
|
|
|
$
|
(5,054
|
)
|
|
$
|
486
|
|
|
Trade name and trademarks (indefinite life)
|
|
Indefinite
|
|
|
|
17,750
|
|
|
|
—
|
|
|
|
17,750
|
|
|
Non-compete agreements
|
|
|
4.0
|
|
|
|
8,633
|
|
|
|
(6,317
|
)
|
|
|
2,316
|
|
|
Consumer relationships
|
|
|
3.4
|
|
|
|
17,200
|
|
|
|
(8,998
|
)
|
|
|
8,202
|
|
|
Internally developed software
|
|
|
2.3
|
|
|
|
4,000
|
|
|
|
(3,244
|
)
|
|
|
756
|
|
|
Other
|
|
|
1.3
|
|
|
|
1,000
|
|
|
|
(933
|
)
|
|
|
67
|
|
|
Total
|
|
|
|
|
|
$
|
54,123
|
|
|
$
|
(24,546
|
)
|
|
$
|
29,577
|
|
Amortization expense for the three months ended January 2, 2021, October 3, 2020, and December 28, 2019 were $0.5 million, $0.6 million, and $0.6 million, respectively. No impairment of goodwill or other intangible assets were recorded in the three months ended January 2, 2021, October 3, 2020, or December 28, 2019.
The estimated future amortization expense related to finite-lived intangible assets on our balance sheet as of January 2, 2021 is as follows (in thousands):
|
Remainder of fiscal 2021
|
|
$
|
1,520
|
|
|
2022
|
|
|
1,936
|
|
|
2023
|
|
|
1,703
|
|
|
2024
|
|
|
1,065
|
|
|
2025
|
|
|
968
|
|
|
Thereafter
|
|
|
2,122
|
|
|
Total
|
|
$
|
9,314
|
|
Intangible assets also include costs associated with acquiring mailing lists for our proprietary database. As of each of January 2, 2021, October 3, 2020, and December 28, 2019, the gross amounts capitalized on the condensed consolidated balance sheets for mailing lists were $1.6 million with a net carrying value of $0.3 million.
|