Schedule of Goodwill |
The Company’s goodwill balance was $332.6 million and $330.3 million as of July 26, 2025 and January 25, 2025, respectively. Changes in the carrying amount of goodwill consisted of the following (dollars in thousands): | | | | | | | | | | | | | | | | | | | Goodwill | | Accumulated Impairment Losses | | Total | Balance as of January 25, 2025 | $ | 579,361 | | | $ | (249,031) | | | $ | 330,330 | | | | | | | | Goodwill adjustment from fiscal 2025 acquisitions | 2,315 | | | — | | | 2,315 | | Balance as of July 26, 2025 | $ | 581,676 | | | $ | (249,031) | | | $ | 332,645 | |
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Schedule of Intangible Assets |
Our intangible assets consisted of the following (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | July 26, 2025 | | January 25, 2025 | | Weighted Average Remaining Useful Lives (Years) | | Gross Carrying Amount | | Accumulated Amortization | | Intangible Assets, Net | | Gross Carrying Amount | | Accumulated Amortization | | Intangible Assets, Net | Customer relationships | 9.3 | | $ | 452,417 | | | $ | 285,122 | | | $ | 167,295 | | | $ | 452,417 | | | $ | 270,210 | | | $ | 182,207 | | Trade names, finite | 7.8 | | 14,080 | | | 9,587 | | | 4,493 | | | 14,080 | | | 9,293 | | | 4,787 | | Trade name, indefinite | Indefinite | | 4,700 | | | — | | | 4,700 | | | 4,700 | | | — | | | 4,700 | | Contract backlog | 1.0 | | 37,900 | | | 18,583 | | | 19,317 | | | 37,900 | | | 9,890 | | | 28,010 | | Non-compete agreements | 2.3 | | 75 | | | 41 | | | 34 | | | 75 | | | 33 | | | 42 | | | | | $ | 509,172 | | | $ | 313,333 | | | $ | 195,839 | | | $ | 509,172 | | | $ | 289,426 | | | $ | 219,746 | |
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Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
As of July 26, 2025, total amortization expense for existing finite-lived intangible assets for the next five fiscal years and thereafter is as follows (dollars in thousands): | | | | | | | | | | | Amount | Remainder of 2026 | | $ | 24,489 | | 2027 | | 38,500 | | 2028 | | 26,462 | | 2029 | | 19,269 | | 2030 | | 18,796 | | 2031 | | 18,126 | | Thereafter | | 45,497 | | Total | | $ | 191,139 | |
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