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

6 Months Ended

Jun. 26, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

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 June 26, 2021 and December 26, 2020, are as follows:


	June 26,						December 26,
	2021						2020
	Gross Carrying Amount		Accumulated Amortization		Average Remaining Life in Years		Gross Carrying Amount		Accumulated Amortization
Intangible Assets
Customer relationships	$	381,758,525	$	84,195,383		12	$	380,862,639	$	71,390,241
Noncompete agreements		417,471		192,736		6		412,949		151,028
Tradenames and trademarks		85,819,442		—		Indefinite		85,597,528		—
Other intangibles		58,455,001		42,051,844		7		58,404,905		41,279,081

	$	526,450,439	$	126,439,963			$	525,278,021	$	112,820,350

Changes to gross carrying amount of recognized intangible assets due to translation adjustments include an approximate $361,000

gain and $

997,000

loss for the period ended June 26, 2021 and December 26, 2020, respectively. Amortization expense was approximately $

6,791,000

and $

6,686,000

and $

13,623,000

and $

13,396,000

for the three and six months ended June 26, 2021 and June 27, 2020, respectively.

The changes in the carrying amounts of goodwill for the period ended June 26, 2021 were as follows:


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

Goodwill acquired during the period		929,276
Changes due to foreign currency fluctuations		(76,905	)

Balance as of June 26, 2021	$	260,275,193