Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.19.1
Goodwill and Other Intangible Assets
 3 Months Ended
Mar. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill amounts by operating segment are summarized as follows: 
 
Goodwill at
 
Acquisitions
 
Dispositions
 
Other (1)
 
Goodwill at
 
December 29, 2018
 
 
March 30, 2019
United States
$
772,213

 
$
—

 
$
—

 
$
175

 
$
772,388

Canada
27,938

 
—

 
—

 
575

 
28,513

Other
3,696

 
—

 
—

 
64

 
3,760

Total
$
803,847

 
$
—

 
$
—

 
$
814

 
$
804,661

 
(1)
These amounts relate to adjustments resulting from fluctuations in foreign currency exchange rates as adjustments to the opening balance sheet for the acquisitions of MinuteKey and Big Time Products. The acquisitions were completed in the third and fourth quarters of 2018, respectively.
Other intangibles, net, as of March 30, 2019 and December 29, 2018 consist of the following: 
 
Estimated
Useful Life
(Years)
 
March 30, 2019
 
December 29, 2018
Customer relationships
13-20
 
$
940,549

 
$
939,880

Trademarks - Indefinite
Indefinite
 
85,365

 
85,228

Trademarks - Other
5-15
 
26,700

 
26,700

Technology and patents
7-12
 
55,430

 
55,394

Intangible assets, gross
 
 
1,108,044

 
1,107,202

Less: Accumulated amortization
 
 
191,597

 
176,677

Other intangibles, net
 
 
$
916,447

 
$
930,525


The amortization expense for amortizable assets including the adjustments resulting from fluctuations in foreign currency exchange rates was $14,765 for the thirteen weeks ended March 30, 2019 and $9,723 for the thirteen weeks ended March 31, 2018.

The Company tests goodwill and indefinite-lived intangible assets for impairment annually. 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 30, 2019 and the thirteen weeks ended March 31, 2018, the Company did not adjust goodwill or intangible assets to their fair values as a result of any impairment analyses.