| Goodwill and Intangible Assets |
Goodwill and Intangible Assets The following table presents goodwill as of April 19, 2020 and December 29, 2019 (in thousands):
|
|
|
|
|
|
|
|
|
| Balance, December 29, 2019 |
|
$ |
96,397 |
|
| Foreign currency translation adjustment |
|
(983) |
|
Goodwill impairment(1)
|
|
(95,414) |
|
| Balance, April 19, 2020 |
|
$ |
— |
|
———————————————————
(1) See Note 2, COVID-19 Pandemic, for further discussion of goodwill impairment recognized during the sixteen weeks ended April 19, 2020.
The following table presents intangible assets as of April 19, 2020 and December 29, 2019 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 19, 2020 |
|
|
|
|
|
December 29, 2019 |
|
|
|
|
|
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net
Carrying
Amount |
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net
Carrying
Amount |
| Intangible assets subject to amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
| Franchise rights |
|
$ |
50,584 |
|
|
$ |
(35,520) |
|
|
$ |
15,064 |
|
|
$ |
53,336 |
|
|
$ |
(35,896) |
|
|
$ |
17,440 |
|
| Favorable leases |
|
13,001 |
|
|
(8,957) |
|
|
4,044 |
|
|
13,001 |
|
|
(8,794) |
|
|
4,207 |
|
| Liquor licenses and other |
|
10,713 |
|
|
(9,912) |
|
|
801 |
|
|
10,737 |
|
|
(9,869) |
|
|
868 |
|
|
|
$ |
74,298 |
|
|
$ |
(54,389) |
|
|
$ |
19,909 |
|
|
$ |
77,074 |
|
|
$ |
(54,559) |
|
|
$ |
22,515 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
| Liquor licenses and other |
|
$ |
7,460 |
|
|
$ |
— |
|
|
$ |
7,460 |
|
|
$ |
7,460 |
|
|
$ |
— |
|
|
$ |
7,460 |
|
| Intangible assets, net |
|
$ |
81,758 |
|
|
$ |
(54,389) |
|
|
$ |
27,369 |
|
|
$ |
84,534 |
|
|
$ |
(54,559) |
|
|
$ |
29,975 |
|
|