Janus International Group Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Acquired Intangible Assets and Goodwill

Acquired Intangible Assets and Goodwill

9 Months Ended

Sep. 25, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Acquired Intangible Assets and Goodwill

5. Acquired Intangible

Assets

and Goodwill

Intangible assets acquired in a business combination (see Note 9 – “Business Combinations”) are recognized at fair value and amortized over their estimated useful lives. The carrying basis and accumulated amortization of recognize

d in

tangible assets at September 25, 2021 and December 26, 2020, are as follows:


	September 25,						December 26,
	2021						2020
	Gross Carrying Amount		Accumulated Amortization		Average Remaining Life in Years		Gross Carrying Amount		Accumulated Amortization
Intangible Assets
Customer relationships	$	410,021,868	$	90,682,225		12	$	380,862,639	$	71,390,241
Noncompete agreements		411,010		238,732		6		412,949		151,028
Tradenames and trademarks		107,958,402		—		Indefinite		85,597,528		—
Other intangibles		61,831,402		43,622,904		6		58,404,905		41,279,081

	$	580,222,682	$	134,543,861			$	525,278,021	$	112,820,350

Changes to gross carrying amount of recognized intangible assets due to translation adjustments include an approximate $369,000 and $997,000 loss for the period ended September 25, 2021 and December 26, 2020, respectively. Amortization expense was approximately $8,229,000 and $6,892,000 and $21,852,000 and $20,287,000 for the three and nine months ended September 25, 2021 and September 26, 2020, respectively.

The changes in the carrying amounts of goodwill for the period ended September 25, 2021 were as follows:


Balance as of December 26, 2020	$	259,422,822

Goodwill acquired during the period		110,641,756
Changes due to foreign currency fluctuations		(457,380	)

Balance as of September 25, 2021	$	369,607,198