| Summary of Goodwill |
The following table details the changes in goodwill (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 29, 2024 |
|
|
September 30, 2023 |
|
|
July 1, 2023 |
|
Balance at beginning of the period |
|
$ |
180,698 |
|
|
$ |
173,513 |
|
|
$ |
173,513 |
|
Acquisitions, net of measurement period adjustments |
|
|
— |
|
|
|
7,185 |
|
|
|
7,185 |
|
Balance at the end of the period |
|
$ |
180,698 |
|
|
$ |
180,698 |
|
|
$ |
180,698 |
|
|
| Summary of Other Intangible Assets |
Other intangible assets consisted of the following as of June 29, 2024 (in thousands, except weighted average remaining useful life):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
Average
Remaining
Useful Life
(in Years) |
|
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
Trade name and trademarks (finite life) |
|
|
9.2 |
|
|
$ |
22,100 |
|
|
$ |
(4,861 |
) |
|
$ |
17,239 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
9,350 |
|
|
|
— |
|
|
|
9,350 |
|
Non-compete agreements |
|
|
4.6 |
|
|
|
2,260 |
|
|
|
(1,317 |
) |
|
|
943 |
|
Consumer relationships |
|
|
6.8 |
|
|
|
15,400 |
|
|
|
(7,685 |
) |
|
|
7,715 |
|
Other intangibles |
|
|
4.3 |
|
|
|
4,000 |
|
|
|
(3,904 |
) |
|
|
96 |
|
Total |
|
|
|
|
$ |
53,110 |
|
|
$ |
(17,767 |
) |
|
$ |
35,343 |
|
Other intangible assets consisted of the following as of September 30, 2023 (in thousands, except weighted average remaining useful life):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
Average
Remaining
Useful Life
(in Years) |
|
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
Trade name and trademarks (finite life) |
|
|
9.8 |
|
|
$ |
26,740 |
|
|
$ |
(7,958 |
) |
|
$ |
18,782 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
9,350 |
|
|
|
— |
|
|
|
9,350 |
|
Non-compete agreements |
|
|
5.4 |
|
|
|
8,683 |
|
|
|
(7,585 |
) |
|
|
1,098 |
|
Consumer relationships |
|
|
7.4 |
|
|
|
24,100 |
|
|
|
(15,317 |
) |
|
|
8,783 |
|
Other intangibles |
|
|
5.1 |
|
|
|
6,620 |
|
|
|
(6,476 |
) |
|
|
144 |
|
Total |
|
|
|
|
$ |
75,493 |
|
|
$ |
(37,336 |
) |
|
$ |
38,157 |
|
Other intangible assets consisted of the following as of July 1, 2023 (in thousands, except weighted average remaining useful life):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
Average
Remaining
Useful Life
(in Years) |
|
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
Trade name and trademarks (finite life) |
|
|
10.1 |
|
|
$ |
26,740 |
|
|
$ |
(7,436 |
) |
|
$ |
19,304 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
9,350 |
|
|
|
— |
|
|
|
9,350 |
|
Non-compete agreements |
|
|
5.6 |
|
|
|
8,683 |
|
|
|
(7,534 |
) |
|
|
1,149 |
|
Consumer relationships |
|
|
7.6 |
|
|
|
24,100 |
|
|
|
(14,935 |
) |
|
|
9,165 |
|
Other intangibles |
|
|
5.3 |
|
|
|
6,620 |
|
|
|
(6,451 |
) |
|
|
169 |
|
Total |
|
|
|
|
$ |
75,493 |
|
|
$ |
(36,356 |
) |
|
$ |
39,137 |
|
|
| Summary of Estimated Future Amortization Expense Related to Finite-Lived Intangible Assets |
The following table summarizes the estimated future amortization expense related to finite-lived intangible assets on our condensed consolidated balance sheet as of June 29, 2024 (in thousands):
|
|
|
|
|
|
|
Amount |
|
Remainder of fiscal 2024 |
|
$ |
914 |
|
2025 |
|
|
3,632 |
|
2026 |
|
|
3,385 |
|
2027 |
|
|
3,262 |
|
2028 |
|
|
3,154 |
|
Thereafter |
|
|
11,646 |
|
Total |
|
$ |
25,993 |
|
|