Company: CHEF
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001517175-25-000002
Chunk: 115

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 115
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3356,021 Goodwill adjustments656 Foreign currency translation(379)Carrying amount as of December 27, 2024$356,298 The goodwill adjustments included in the table above represent measurement period adjustments related to certain acquisitions completed in prior years.

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Other intangible assets as of December 27, 2024 and December 29, 2023 consisted of the following:Weighted AverageRemaining Amortization PeriodGross CarryingAmountAccumulatedAmortizationNet AmountDecember 27, 2024   Customer relationships88 months$251,932 $(122,619)$129,313 Trademarks140 months56,184 (25,212)30,972 Non-compete agreements11 months9,299 (9,201)98 Total$317,415 $(157,032)$160,383 December 29, 2023    Customer relationships100 months$251,967 $(103,042)$148,925 Trademarks147 months56,257 (20,857)35,400 Non-compete agreements18 months9,299 (8,761)538 Total$317,523 $(132,660)$184,863 During fiscal 2023, the Company recognized a customer relationships intangible asset impairment charge of $1,838, $1,333 net of tax, related to the loss of a significant Hardie’s customer post acquisition. The Company’s valuation of the Hardie’s customer list intangible asset as of the acquisition date, a Level 3 measurement, was based on an income approach using the excess earnings method which requires significant assumptions including future sales forecasts and a discount rate. The impairment charge was measured by reducing its assumption of future sales for the significant customer lost post-acquisition to zero. The impairment charge is presented within other operating expenses on the consolidated statements of operations.Amortization expense for other intangibles was $24,372, $22,719 and $13,913 for the fiscal years ended December 27, 2024, December 29, 2023 and December 30, 2022, respectively. As of December 27, 2024, estimated amortization expense for other intangible assets for each of the next five fiscal years and thereafter is as follows: 2025$24,243 202623,607 202722,776 202819,869 202917,810 Thereafter52,078 Total