v3.21.1
Goodwill and Other Intangible Assets
3 Months Ended
Mar. 27, 2021
Hman Group holdings Inc and subsidiaries  
Indefinite-lived Intangible Assets [Line Items]  
Goodwill and Other Intangible Assets

4.   Goodwill and Other Intangible Assets:

Goodwill amounts by reportable segment are summarized as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Goodwill at

    

 

 

    

 

 

    

 

 

    

Goodwill at

 

 

December 26,

 

 

 

 

 

 

 

 

 

 

March 27,

 

 

2020

 

Acquisitions

 

Dispositions

 

Other(1) 

 

2021

Hardware and Protective Solutions

 

$

565,578

 

$

 —

 

$

 —

 

$

(124)

 

$

565,454

Robotics and Digital Solutions

 

 

220,936

 

 

 —

 

 

 —

 

 

 —

 

 

220,936

Canada

 

 

29,686

 

 

 —

 

 

 —

 

 

602

 

 

30,288

Total

 

$

816,200

 

$

 —

 

$

 —

 

$

478

 

$

816,678

 

(1)

 

The “Other” change to goodwill relates to adjustments resulting from fluctuations in foreign currency exchange rates for the Canada and Mexico reporting units.

Other intangibles, net, as of March 27, 2021 and December 26, 2020 consist of the following:

 

 

 

 

 

 

 

 

 

 

 

    

Estimated

    

 

 

    

 

 

 

 

Useful Life

 

March 27,

 

December 26,

 

 

(Years)

 

2021

 

2020

Customer relationships

 

 

13  – 20

 

$

942,131

 

$

941,648

Trademarks – Indefinite

 

 

Indefinite

 

 

85,713

 

 

85,603

Trademarks – Other

 

 

7  – 15

 

 

26,400

 

 

26,400

Technology and patents

 

 

7  – 12

 

 

63,761

 

 

63,749

Intangible assets, gross

 

 

 

 

 

1,118,005

 

 

1,117,400

Less: Accumulated amortization

 

 

 

 

 

306,509

 

 

291,434

Other intangibles, net

 

 

 

 

$

811,496

 

$

825,966

 

The amortization expense for amortizable assets, including the adjustments resulting from fluctuations in foreign currency exchange rates for the thirteen weeks ended March 27, 2021 was $14,909.  Amortization expense for the thirteen weeks ended March 28, 2020 was $14,848.

The Company tests goodwill and indefinite-lived intangible assets for impairment annually in the fourth quarter. Impairment is also tested when events or changes in circumstances indicate that the carrying values of the assets may be greater than their fair values. During the thirteen weeks ended March 27, 2021 and the thirteen weeks ended March 28, 2020, the Company did not identify any triggering events that would result in an impairment analysis outside of the annual assessment.