Summary of Goodwill |
The following table details the changes in goodwill (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 30, 2024 |
|
|
September 30, 2023 |
|
|
April 1, 2023 |
|
Balance at beginning of the period |
|
$ |
180,698 |
|
|
$ |
173,513 |
|
|
$ |
173,513 |
|
Acquisitions, net of measurement period adjustments |
|
|
— |
|
|
|
7,185 |
|
|
|
2,831 |
|
Balance at the end of the period |
|
$ |
180,698 |
|
|
$ |
180,698 |
|
|
$ |
176,344 |
|
|
Summary of Other Intangible Assets |
Other intangible assets consisted of the following as of March 30, 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) |
|
|
9.4 |
|
|
$ |
22,100 |
|
|
$ |
(4,350 |
) |
|
$ |
17,750 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
9,350 |
|
|
|
— |
|
|
|
9,350 |
|
Non-compete agreements |
|
|
4.9 |
|
|
|
2,260 |
|
|
|
(1,265 |
) |
|
|
995 |
|
Consumer relationships |
|
|
7.0 |
|
|
|
15,400 |
|
|
|
(7,332 |
) |
|
|
8,068 |
|
Other intangibles |
|
|
4.6 |
|
|
|
4,000 |
|
|
|
(3,888 |
) |
|
|
112 |
|
Total |
|
|
|
|
$ |
53,110 |
|
|
$ |
(16,835 |
) |
|
$ |
36,275 |
|
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 April 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) |
|
|
10.3 |
|
|
$ |
26,740 |
|
|
$ |
(6,915 |
) |
|
$ |
19,825 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
9,350 |
|
|
|
— |
|
|
|
9,350 |
|
Non-compete agreements |
|
|
5.9 |
|
|
|
8,683 |
|
|
|
(7,482 |
) |
|
|
1,201 |
|
Consumer relationships |
|
|
7.6 |
|
|
|
24,100 |
|
|
|
(14,419 |
) |
|
|
9,681 |
|
Other intangibles |
|
|
5.6 |
|
|
|
6,620 |
|
|
|
(6,427 |
) |
|
|
193 |
|
Total |
|
|
|
|
$ |
75,493 |
|
|
$ |
(35,243 |
) |
|
$ |
40,250 |
|
|
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 March 30, 2024 (in thousands):
|
|
|
|
|
|
|
Amount |
|
Remainder of fiscal 2024 |
|
$ |
1,846 |
|
2025 |
|
|
3,632 |
|
2026 |
|
|
3,385 |
|
2027 |
|
|
3,262 |
|
2028 |
|
|
3,154 |
|
Thereafter |
|
|
11,646 |
|
Total |
|
$ |
26,925 |
|
|