Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 26, 2020
Accounting Policies [Abstract]  
Summary of Property and Equipment
Property and equipment, net, consists of the following at December 26, 2020 and December 28, 2019:
Estimated
Useful Life
  (Years) 2020 2019
Leasehold improvements life of lease 11,506  10,982 
Machinery and equipment 2 - 10 334,643  308,096 
Computer equipment and software 2 - 5 61,737  60,412 
Furniture and fixtures 6 - 8 5,467  2,749 
Construction in process 5,352  2,712 
Property and equipment, gross 418,705  384,951 
Less: Accumulated depreciation 236,031  179,791 
Property and equipment, net $ 182,674  $ 205,160 
Summary of Goodwill
Goodwill amounts by reportable segment are summarized as follows:
Goodwill at Goodwill at
December 29, 2019
As Restated		 Acquisitions Disposals
Other(1)
December 26, 2020
Hardware and Protective Solutions $ 565,780  $ —  $ —  $ (202) $ 565,578 
Robotics and Digital Solutions 220,936  —  —  —  220,936 
Canada 29,134  —  —  552  29,686 
Total $ 815,850  $ —  $ —  $ 350  $ 816,200 
(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 26, 2020 and December 28, 2019 consist of the following:
Estimated
  Useful Life
(Years)		 December 26, 2020 December 28, 2019
Customer relationships 13 - 20 $ 941,648  $ 941,305 
Trademarks - Indefinite Indefinite 85,603  85,517 
Trademarks - Other 5 - 15 26,400  26,700 
Technology and patents 7 - 12 63,749  60,968 
Intangible assets, gross 1,117,400  1,114,490 
Less: Accumulated amortization 291,434  232,060 
Intangible assets, net $ 825,966  $ 882,430 
Schedule of Intangible Assets
Other intangibles, net, as of December 26, 2020 and December 28, 2019 consist of the following:
Estimated
  Useful Life
(Years)		 December 26, 2020 December 28, 2019
Customer relationships 13 - 20 $ 941,648  $ 941,305 
Trademarks - Indefinite Indefinite 85,603  85,517 
Trademarks - Other 5 - 15 26,400  26,700 
Technology and patents 7 - 12 63,749  60,968 
Intangible assets, gross 1,117,400  1,114,490 
Less: Accumulated amortization 291,434  232,060 
Intangible assets, net $ 825,966  $ 882,430 
Schedule of Future Amortization Expense
Estimated annual amortization expense for intangible assets subject to amortization at December 26, 2020 for the next five fiscal years is as follows:
Fiscal Year Ended Amortization Expense
2021 $ 59,608 
2022 $ 59,608 
2023 $ 59,608 
2024 $ 59,608 
2025 $ 58,858 
Summary of Disaggregation of Revenue The following table disaggregates our revenue by product category:
Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue
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 
Year Ended December 29, 2018
Fastening and Hardware $ 581,269  $ —  $ 137,186  $ 718,455 
Personal Protective 55,448  —  —  55,448 
Keys and Key Accessories —  143,898  4,217  148,115 
Engraving —  52,145  12  52,157 
Resharp —  —  —  — 
Consolidated $ 636,717  $ 196,043  $ 141,415  $ 974,175 
The following table disaggregates our revenue by geographic location:
Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue
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 
Year Ended December 29, 2018
United States $ 626,490  $ 195,538  $ —  $ 822,028 
Canada 1,944  505  141,415  143,864 
Mexico 8,283  —  —  8,283 
Consolidated $ 636,717  $ 196,043  $ 141,415  $ 974,175