(5) GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

As of September 26, 2026 and December 27, 2025, the carrying amounts of goodwill by segment were as follows:

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In the third quarter of fiscal 2026, the Company performed its annual goodwill impairment assessment utilizing a quantitative test on all of its reporting units using a measurement date of August 29, 2026. The fair values of the reporting units were estimated using a discounted cash flow analysis, which required the Company to estimate the future cash flows as well as select a risk-adjusted discount rate to measure the present value of the anticipated cash flows. The estimated fair value of all reporting units with recorded goodwill exceeded their respective carrying values and no impairments were recorded.

In the second quarter of fiscal 2025, the Company identified triggering events that required interim goodwill impairment testing for certain reporting units within the Infrastructure segment. Due to the Company’s strategic exit from the North American solar tracker market, increased competitive pressures in Brazil, and uncertainty surrounding European policies, an interim goodwill impairment test was conducted for the Solar reporting unit. The carrying amount of this reporting unit exceeded its estimated fair value, resulting in a goodwill impairment charge of $41,869 within the Infrastructure segment.

Additionally, in the second quarter of fiscal 2025, due to a reduction in forecasted sales primarily resulting from general market weakness in Australia, an interim goodwill impairment test was also performed for the Access Systems reporting unit. The carrying amount exceeded its estimated fair value, resulting in a goodwill impairment charge of $23,000 within the Infrastructure segment.

Other Intangible Assets

As of September 26, 2026 and December 27, 2025, the components of other intangible assets were as follows:

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The weighted-average remaining useful life of amortizing intangible assets is approximately seven years. Amortization expense was $2,674 and $8,051 for the thirteen and thirty-nine weeks ended September 26, 2026, respectively, and $2,788 and $8,628 for the thirteen and thirty-nine weeks ended September 27, 2025, respectively. Amortization expense is expected to average $9,000 annually over the next five fiscal years, based on amortizing intangible assets reported as of September 26, 2026.

The Company’s indefinite-lived trade names were tested for impairment as of August 29, 2026. The fair value of each trade name was determined using the relief-from-royalty method. Based on this evaluation, no impairment was identified.

In the second quarter of fiscal 2025, the Company performed an impairment test on indefinite-lived trade names associated with the Solar and Access Systems reporting units. Using the relief-from-royalty method, the Company determined that the carrying amounts of the trade names exceeded their estimated fair values. As a result, impairment charges of $4,830 were recognized within the Infrastructure segment.

Additionally, in the second quarter of fiscal 2025, an impairment charge of $1,395 was recognized within the Agriculture segment for a customer relationship intangible asset that was determined not to be recoverable.