Schedule of goodwill and other intangible assets |
The carrying amounts of goodwill and other intangible assets, as of the dates indicated, consist of the following (in thousands): | | | | | | | | | | | | | | | | | | | June 28, 2025 | | December 28, 2024 | | Gross Carrying | | Accumulated | | Net Carrying | | Gross Carrying | | Accumulated | | Net Carrying | | Amount | | Amortization | | Amount | | Amount | | Amortization | | Amount | Finite-Lived Intangible Assets | | | | | | | | | | | | | | | | | | Trademarks | $ | 6,800 | | $ | 5,516 | | $ | 1,284 | | $ | 6,800 | | $ | 5,289 | | $ | 1,511 | Customer relationships | | 385,713 | | | 228,622 | | | 157,091 | | | 386,026 | | | 218,958 | | | 167,068 | Total finite-lived intangible assets | $ | 392,513 | | $ | 234,138 | | $ | 158,375 | | $ | 392,826 | | $ | 224,247 | | $ | 168,579 | | | | | | | | | | | | | | | | | | | Indefinite-Lived Intangible Assets | | | | | | | | | | | | | | | | | | Goodwill | | | | | | | $ | 543,838 | | | | | | | | $ | 548,231 | Trademarks | | | | | | | | 1,117,364 | | | | | | | | | 1,117,367 | Total indefinite-lived intangible assets | | | | | | | $ | 1,661,202 | | | | | | | | $ | 1,665,598 | | | | | | | | | | | | | | | | | | | Total goodwill and other intangible assets | | | | | | | $ | 1,819,577 | | | | | | | | $ | 1,834,177 |
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Carrying amount of goodwill by operating segment |
The changes in the carrying amount of goodwill by operating segment for the first two quarters of 2025 were as follows (in thousands): | | | | | | | | | | | | | | | | Specialty | | Meals | | Frozen & Vegetables | | Spices & Flavor Solutions | | Total | Balance as of December 31, 2024 | $ | 223,778 | | $ | 143,020 | | $ | — | | $ | 181,433 | | $ | 548,231 | Currency translation | | 358 | | | — | | | — | | | — | | | 358 | Don Pepino divestiture | | (4,751) | | | — | | | — | | | — | | | (4,751) | Balance as of June 28, 2025 | $ | 219,385 | | $ | 143,020 | | $ | — | | $ | 181,433 | | $ | 543,838 |
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Summary of carrying amount of indefinite-lived trademark intangible assets by reporting unit |
The changes in the carrying amount of indefinite-lived trademark intangible assets by reporting unit for the first two quarters of 2025 were as follows (in thousands): | | | | | | | | | | | | | | | | Specialty | | Meals | | Frozen & Vegetables | | Spices & Flavor Solutions | | Total | Balance as of December 31, 2024 | $ | 593,134 | | $ | 219,764 | | $ | 31,660 | | $ | 272,809 | | $ | 1,117,367 | Currency translation | | 777 | | | — | | | — | | | — | | | 777 | Don Pepino divestiture | | (780) | | | | | | | | | | | | (780) | Balance as of June 28, 2025 | $ | 593,131 | | $ | 219,764 | | $ | 31,660 | | $ | 272,809 | | $ | 1,117,364 |
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