v3.22.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 25, 2021
Summary of Significant Accounting Policies  
Summary of Property and Equipment

Estimated 

Useful Life 

    

(Years)

    

2021

    

2020

Leasehold improvements

 

life of lease

11,773

11,506

Machinery and equipment

 

2 – 0

 

366,198

 

334,643

Computer equipment and software

 

2 – 5

 

64,648

 

61,737

Furniture and fixtures

 

6 – 8

 

5,390

 

5,467

Construction in process

 

 

10,372

 

5,352

Property and equipment, gross

 

 

458,381

 

418,705

Less: Accumulated depreciation

 

 

284,069

 

236,031

Property and equipment, net

$

174,312

$

182,674

Summary of Goodwill

Goodwill at 

Goodwill at 

December 26, 

December 25, 

    

2020

    

Acquisitions

    

Disposals

    

Other(1)

    

2021

Hardware and Protective Solutions

$

565,578

$

9,250

$

$

(130)

$

574,698

Robotics and Digital Solutions

 

220,936

 

 

 

 

220,936

Canada

 

29,686

 

 

 

51

 

29,737

Total

$

816,200

$

9,250

$

$

(79)

$

825,371

(1) The “Other” change to goodwill relates to adjustments resulting from fluctuations in foreign currency exchange rates for the Canada and Mexico reporting units.
Schedule of Intangible Assets

Other intangibles, net, as of December 25, 2021 and December 26, 2020 consist of the following:

Estimated 

Useful Life

    

 (Years)

    

December 25, 2021

    

December 26, 2020

Customer relationships

 

13 – 20

$

965,054

$

941,648

Trademarks – indefinite

 

Indefinite

 

85,591

 

85,603

Trademarks – other

 

7 – 15

 

29,000

 

26,400

Technology and patents

 

8 – 12

 

67,750

 

63,749

Intangible assets, gross

 

 

1,147,395

 

1,117,400

Less: Accumulated amortization

 

 

352,695

 

291,434

Intangible assets, net

$

794,700

$

825,966

Schedule of Intangible Assets

Other intangibles, net, as of December 25, 2021 and December 26, 2020 consist of the following:

Estimated 

Useful Life

    

 (Years)

    

December 25, 2021

    

December 26, 2020

Customer relationships

 

13 – 20

$

965,054

$

941,648

Trademarks – indefinite

 

Indefinite

 

85,591

 

85,603

Trademarks – other

 

7 – 15

 

29,000

 

26,400

Technology and patents

 

8 – 12

 

67,750

 

63,749

Intangible assets, gross

 

 

1,147,395

 

1,117,400

Less: Accumulated amortization

 

 

352,695

 

291,434

Intangible assets, net

$

794,700

$

825,966

Schedule of Future Amortization Expense

Estimated annual amortization expense for intangible assets subject to amortization at December 25, 2021 for the next five fiscal years is as follows:

Amortization 

Fiscal Year Ended

    

Expense

2022

$

61,697

2023

$

61,697

2024

$

61,697

2025

$

61,217

2026

$

56,812

Summary of Disaggregation of Revenue

The following table disaggregates our revenue by product category:

Hardware and 

Robotics and 

    

Protective Solutions

    

Digital Solutions

    

Canada

    

Total Revenue

Year Ended December 25, 2021

Fastening and Hardware

$

740,088

$

$

149,165

$

889,253

Personal Protective

 

284,886

 

 

397

 

285,283

Keys and Key Accessories

 

 

190,697

 

1,826

 

192,523

Engraving

 

 

 

 

58,555

 

 

77

 

 

58,632

Resharp

 

 

276

 

 

276

Consolidated

$

1,024,974

$

249,528

$

151,465

$

1,425,967

Year Ended December 26, 2020

Fastening and Hardware

$

706,865

$

$

131,493

$

838,358

Personal Protective

 

317,527

 

 

239

 

317,766

Keys and Key Accessories

 

 

157,828

 

2,878

 

160,706

Engraving

 

 

51,423

 

6

 

51,429

Resharp

 

 

36

 

 

36

Consolidated

$

1,024,392

$

209,287

$

134,616

$

1,368,295

Year Ended December 28, 2019

 

  

 

  

 

  

 

  

Fastening and Hardware

$

607,247

$

$

121,242

$

728,489

Personal Protective

 

245,769

 

 

 

245,769

Keys and Key Accessories

 

 

185,451

 

4,009

 

189,460

Engraving

 

 

50,613

 

9

 

50,622

Resharp

 

 

22

 

 

22

Consolidated

$

853,016

$

236,086

$

125,260

$

1,214,362

The following table disaggregates our revenue by geographic location:

Hardware and 

Robotics and 

    

Protective Solutions

    

Digital Solutions

    

Canada

    

Total Revenue

Year Ended December 25, 2021

United States

 

$

1,004,803

 

$

246,494

 

$

 

$

1,251,297

Canada

7,326

3,034

151,465

161,825

Mexico

12,845

12,845

Consolidated

$

1,024,974

$

249,528

$

151,465

$

1,425,967

Year Ended December 26, 2020

United States

$

1,007,135

$

207,283

$

$

1,214,418

Canada

 

7,789

 

2,004

 

134,616

 

144,409

Mexico

 

9,468

 

 

 

9,468

Consolidated

$

1,024,392

$

209,287

$

134,616

$

1,368,295

Year Ended December 28, 2019

 

  

 

  

 

  

 

  

United States

$

835,957

$

234,216

$

$

1,070,173

Canada

 

5,905

 

1,870

 

125,260

 

133,035

Mexico

 

11,154

 

 

 

11,154

Consolidated

$

853,016

$

236,086

$

125,260

$

1,214,362