Quarterly report pursuant to Section 13 or 15(d)

Note D - Intangible Assets

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Note D - Intangible Assets
9 Months Ended
Sep. 26, 2020
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]

NOTE D – INTANGIBLE ASSETS

 

The Company performed its annual goodwill impairment test during the third quarter of 2020.  The Company performed a qualitative assessment of each reporting unit and determined that it was not more-likely-than-not that the fair value of any reporting unit was less than its carrying amount.  As a result, no impairments of goodwill were recognized.

 

The Company also performed its annual indefinite-lived intangible asset impairment test during the third quarter of 2020. The Company performed a qualitative assessment of the indefinite-lived intangible asset and determined that it was not more-likely-than-not that the fair value of the indefinite-lived intangible asset was less than the carrying amount. As a result, no impairment of the indefinite-lived intangible asset was recognized.