| Summary of Goodwill |
The following table details the changes in goodwill (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 2, 2022 |
|
|
October 2, 2021 |
|
|
July 3, 2021 |
|
Balance at beginning of the period |
|
$ |
101,114 |
|
|
$ |
93,295 |
|
|
$ |
93,295 |
|
Acquisitions, net of measurement period adjustments(1) |
|
|
24,160 |
|
|
|
7,819 |
|
|
|
5,374 |
|
Balance at the end of the period |
|
$ |
125,274 |
|
|
$ |
101,114 |
|
|
$ |
98,669 |
|
Includes immaterial measurement period adjustments related to acquisitions completed in fiscal 2021.
|
| Summary of Other Intangible Assets |
Other intangible assets consisted of the following as of July 2, 2022 (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) |
|
|
9.5 |
|
|
$ |
10,440 |
|
|
$ |
(5,505 |
) |
|
$ |
4,935 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
17,750 |
|
|
|
— |
|
|
|
17,750 |
|
Non-compete agreements |
|
|
6.7 |
|
|
|
8,683 |
|
|
|
(7,328 |
) |
|
|
1,355 |
|
Consumer relationships |
|
|
6.0 |
|
|
|
19,000 |
|
|
|
(12,926 |
) |
|
|
6,074 |
|
Other intangibles |
|
|
6.4 |
|
|
|
6,620 |
|
|
|
(6,345 |
) |
|
|
275 |
|
Total |
|
|
|
|
$ |
62,493 |
|
|
$ |
(32,104 |
) |
|
$ |
30,389 |
|
Other intangible assets consisted of the following as of October 2, 2021 (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) |
|
|
6.6 |
|
|
$ |
5,940 |
|
|
$ |
(5,274 |
) |
|
$ |
666 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
17,750 |
|
|
|
— |
|
|
|
17,750 |
|
Non-compete agreements |
|
|
7.5 |
|
|
|
8,633 |
|
|
|
(7,123 |
) |
|
|
1,510 |
|
Consumer relationships |
|
|
6.4 |
|
|
|
19,000 |
|
|
|
(11,688 |
) |
|
|
7,312 |
|
Other intangibles |
|
|
7.0 |
|
|
|
6,620 |
|
|
|
(5,952 |
) |
|
|
668 |
|
Total |
|
|
|
|
$ |
57,943 |
|
|
$ |
(30,037 |
) |
|
$ |
27,906 |
|
Other intangible assets consisted of the following as of July 3, 2021 (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) |
|
|
2.9 |
|
|
$ |
5,940 |
|
|
$ |
(5,236 |
) |
|
$ |
704 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
17,750 |
|
|
|
— |
|
|
|
17,750 |
|
Non-compete agreements |
|
|
7.4 |
|
|
|
9,333 |
|
|
|
(7,174 |
) |
|
|
2,159 |
|
Consumer relationships |
|
|
6.5 |
|
|
|
19,000 |
|
|
|
(11,276 |
) |
|
|
7,724 |
|
Other intangibles |
|
|
7.9 |
|
|
|
6,620 |
|
|
|
(5,886 |
) |
|
|
734 |
|
Total |
|
|
|
|
$ |
58,643 |
|
|
$ |
(29,572 |
) |
|
$ |
29,071 |
|
|
| 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 July 2, 2022 (in thousands):
|
|
|
|
|
|
|
Amount |
|
Remainder of fiscal 2022 |
|
$ |
649 |
|
2023 |
|
|
2,373 |
|
2024 |
|
|
1,735 |
|
2025 |
|
|
1,638 |
|
2026 |
|
|
1,392 |
|
Thereafter |
|
|
4,852 |
|
Total |
|
$ |
12,639 |
|
|