Goodwill and Other Intangible Assets (Tables)
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6 Months Ended |
Jun. 29, 2019 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Summary of Goodwill Amounts by Operating Segment |
Goodwill amounts by operating segment are summarized as follows:
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Goodwill at |
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Acquisitions |
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Dispositions |
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Other (1)
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Goodwill at |
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December 29, 2018 |
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June 29, 2019 |
United States |
$ |
772,213 |
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$ |
— |
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$ |
— |
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$ |
921 |
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$ |
773,134 |
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Canada |
27,938 |
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— |
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— |
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1,176 |
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29,114 |
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Other |
3,696 |
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— |
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— |
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87 |
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3,783 |
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Total |
$ |
803,847 |
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$ |
— |
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$ |
— |
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$ |
2,184 |
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$ |
806,031 |
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(1)
These amounts relate to adjustments resulting from fluctuations in foreign currency exchange rates and adjustments to the opening balance sheet for the acquisitions of MinuteKey and Big Time Products. These acquisitions were completed in the third and fourth quarters of 2018, respectively.
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| Schedule of Finite-Lived Intangible Assets |
Other intangibles, net, as of June 29, 2019 and December 29, 2018 consist of the following:
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Estimated
Useful Life
(Years) |
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June 29, 2019 |
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December 29, 2018 |
Customer relationships |
13-20 |
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$ |
941,197 |
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$ |
939,880 |
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Trademarks - Indefinite |
Indefinite |
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85,500 |
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85,228 |
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Trademarks - Other |
5-15 |
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26,700 |
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26,700 |
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Technology and patents |
7-12 |
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49,437 |
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55,394 |
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Intangible assets, gross |
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1,102,834 |
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1,107,202 |
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Less: Accumulated amortization |
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202,561 |
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176,677 |
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Other intangibles, net |
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$ |
900,273 |
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$ |
930,525 |
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| Schedule of Indefinite-Lived Intangible Assets |
Other intangibles, net, as of June 29, 2019 and December 29, 2018 consist of the following:
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Estimated
Useful Life
(Years) |
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June 29, 2019 |
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December 29, 2018 |
Customer relationships |
13-20 |
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$ |
941,197 |
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$ |
939,880 |
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Trademarks - Indefinite |
Indefinite |
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85,500 |
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85,228 |
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Trademarks - Other |
5-15 |
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26,700 |
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26,700 |
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Technology and patents |
7-12 |
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49,437 |
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55,394 |
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Intangible assets, gross |
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1,102,834 |
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1,107,202 |
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Less: Accumulated amortization |
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202,561 |
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176,677 |
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Other intangibles, net |
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$ |
900,273 |
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$ |
930,525 |
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