| Summary of Goodwill |
The following table details the changes in goodwill (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2022 |
|
|
October 1, 2022 |
|
|
January 1, 2022 |
|
Balance at beginning of the period |
|
$ |
173,513 |
|
|
$ |
101,114 |
|
|
$ |
101,114 |
|
Acquisitions, net of measurement period adjustments |
|
|
2,650 |
|
|
|
72,399 |
|
|
|
4,675 |
|
Balance at the end of the period |
|
$ |
176,163 |
|
|
$ |
173,513 |
|
|
$ |
105,789 |
|
|
| Summary of Other Intangible Assets |
Other intangible assets consisted of the following as of December 31, 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) |
|
|
10.5 |
|
|
$ |
27,140 |
|
|
$ |
(6,224 |
) |
|
$ |
20,916 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
9,350 |
|
|
|
— |
|
|
|
9,350 |
|
Non-compete agreements |
|
|
6.1 |
|
|
|
8,683 |
|
|
|
(7,431 |
) |
|
|
1,252 |
|
Consumer relationships |
|
|
7.7 |
|
|
|
24,100 |
|
|
|
(13,879 |
) |
|
|
10,221 |
|
Other intangibles |
|
|
5.8 |
|
|
|
6,620 |
|
|
|
(6,403 |
) |
|
|
217 |
|
Total |
|
|
|
|
$ |
75,893 |
|
|
$ |
(33,937 |
) |
|
$ |
41,956 |
|
Other intangible assets consisted of the following as of October 1, 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) |
|
|
11.0 |
|
|
$ |
24,440 |
|
|
$ |
(5,907 |
) |
|
$ |
18,533 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
9,350 |
|
|
|
— |
|
|
|
9,350 |
|
Non-compete agreements |
|
|
6.5 |
|
|
|
8,683 |
|
|
|
(7,379 |
) |
|
|
1,304 |
|
Consumer relationships |
|
|
7.9 |
|
|
|
24,100 |
|
|
|
(13,339 |
) |
|
|
10,761 |
|
Other intangibles |
|
|
6.2 |
|
|
|
6,620 |
|
|
|
(6,380 |
) |
|
|
240 |
|
Total |
|
|
|
|
$ |
73,193 |
|
|
$ |
(33,005 |
) |
|
$ |
40,188 |
|
Other intangible assets consisted of the following as of January 1, 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) |
|
|
6.5 |
|
|
$ |
5,940 |
|
|
$ |
(5,311 |
) |
|
$ |
629 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
17,750 |
|
|
|
— |
|
|
|
17,750 |
|
Non-compete agreements |
|
|
7.2 |
|
|
|
8,633 |
|
|
|
(7,174 |
) |
|
|
1,459 |
|
Consumer relationships |
|
|
6.3 |
|
|
|
19,000 |
|
|
|
(12,545 |
) |
|
|
6,455 |
|
Other intangibles |
|
|
6.9 |
|
|
|
6,620 |
|
|
|
(6,274 |
) |
|
|
346 |
|
Total |
|
|
|
|
$ |
57,943 |
|
|
$ |
(31,304 |
) |
|
$ |
26,639 |
|
|
| 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 December 31, 2022 (in thousands):
|
|
|
|
|
|
|
Amount |
|
Remainder of fiscal 2023 |
|
$ |
3,580 |
|
2024 |
|
|
3,873 |
|
2025 |
|
|
3,777 |
|
2026 |
|
|
3,530 |
|
2027 |
|
|
3,407 |
|
Thereafter |
|
|
14,439 |
|
Total |
|
$ |
32,606 |
|
|