Hillman Solutions Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 26, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill amounts by reportable segment are summarized as follows:


	Goodwill at		Acquisitions		Dispositions		Adjustments		Other⁽¹⁾		Goodwill at
	December 28, 2019												September 26, 2020
Fastening, Hardware, and Personal Protection	$	567,847	$	—	$	—	$	—	$	(604)	$	567,243
Consumer Connected Solutions	222,096		—		—		—		—		222,096
Canada	29,134		—		—		—		(692)		28,442
Total	$	819,077	$	—	$	—	$	—	$	(1,296)	$	817,781

(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 September 26, 2020 and December 28, 2019 consist of the following:


	Estimated Useful Life (Years)					September 26, 2020		December 28, 2019
Customer relationships	13	-	20	$	939,908	$	941,305
Trademarks - Indefinite	Indefinite					85,262		85,517
Trademarks - Other	7	-	15	26,400		26,700
Technology and patents	7	-	12	63,724		60,968
Intangible assets, gross						1,115,294		1,114,490
Less: Accumulated amortization				275,972		232,060
Other intangibles, net				$	839,322	$	882,430

The amortization expense for amortizable assets, including the adjustments resulting from fluctuations in foreign currency exchange rates for the thirteen and thirty-nine weeks ended September 26, 2020 was $14,883 and $44,596, respectively. Amortization expense for the thirteen and thirty-nine weeks ended September 28, 2019 was $14,665 and $44,114, respectively.

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 and thirty-nine weeks ended September 26, 2020 and the thirteen and thirty-nine weeks ended September 28, 2019, the Company did not identify any triggering events that would result in an impairment analysis outside of the annual assessment.