Janus International Group Post-effective amendment to a registration statement that is not immediately effective upon filing

Post-effective amendment to a registration statement that is not immediately effective upon filing

Acquired Intangible Assets and Goodwill

Acquired Intangible Assets and Goodwill

3 Months Ended

12 Months Ended

Apr. 02, 2022

Jan. 01, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Acquired Intangible Assets and Goodwill

5. Acquired Intangible Assets and Goodwill

Intangible assets acquired in a business combination are recognized at fair value and amortized over their estimated useful lives. The carrying basis and accumulated amortization of recognized intangible assets at April 2, 2022 and January 1, 2022, are as follows:


	April 2,						January 1,
	2022						2022
	Gross Carrying Amount		Accumulated Amortization		Average Remaining Life in Years		Gross Carrying Amount		Accumulated Amortization

Intangible Assets
Customer relationships	$	409,715	$	104,635		11	$	410,094	$	97,895
Noncompete agreements		411		236		5		412		231
Tradenames and trademarks		107,826		—		Indefinite		107,980		—
Other intangibles		61,804		46,484		6		61,836		46,156

	$	579,756	$	151,355			$	580,322	$	144,282

Changes to gross carrying amount of recognized intangible assets due to translation adjustments include an approximate $566 and $270 loss for the period ended April 2, 2022 and January 1, 2022, respectively. Amortization expense was approximately $7,225 and $6,832 for the three months ended April 2, 2022 and March 27, 2021, respectively.

The changes in the carrying amounts of goodwill for the period ended April 2, 2022 were as follows:




Balance as of January 1, 2022	$	369,286

Changes due to foreign currency fluctuations		(7	)

Balance as of April 2, 2022	$	369,279

5. Acquired Intangible Assets and Goodwill

Intangible assets acquired in a business combination (See Note 10 Business Combinations) are recognized at fair value and amortized over their estimated useful lives. The carrying basis and accumulated amortization of recognized intangible assets at January 1, 2022 and December 26, 2020 are as follows:


	January 1,						December 26,
	2022						2020
	Gross Carrying Amount		Accumulated Amortization		Average Remaining Life in Years		Gross Carrying Amount		Accumulated Amortization
Intangible Assets
Customer relationships	$	410,094	$	97,895		11	$	380,863	$	71,390
Noncompete agreements		412		231		5		413		151
Tradenames and trademarks		107,980		—		Indefinite		85,598		—
Other intangibles		61,836		46,156		6		58,405		41,279

	$	580,322	$	144,282			$	525,278	$	112,820

Changes to gross carrying amount of recognized intangible assets due to translation adjustments include an approximate $270 and $997 loss

for the years ended January 1, 2022 and December 26, 2020, respectively. Amortization expense was approximately $31,588

$27,046

, and $30,511 for the years ended January 1, 2022, December 26, 2020 and December 28, 2019, respectively.

The changes in the carrying amounts of goodwill for the periods ended January 1, 2022 and December 26, 2020 were as follows:



Balance as of December 28, 2019	$	256,227

Goodwill acquired during the period	$	2,607
Changes due to foreign currency fluctuations	$	589
Balance as of December 26, 2020	$	259,423

Goodwill acquired during the period		110,240
Changes due to foreign currency fluctuati o ns		(376	)

Balance as of January 1, 2022	$	369,286