| Goodwill and Intangible Assets |
Goodwill and Intangible Assets The following table presents goodwill as of July 12, 2020 and December 29, 2019 (in thousands):
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| Balance, December 29, 2019 |
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$ |
96,397 |
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| Foreign currency translation adjustment |
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(983) |
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Goodwill impairment(1)
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|
(95,414) |
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| Balance, July 12, 2020 |
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$ |
— |
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———————————————————
(1) See Note 2, COVID-19 Pandemic, for further discussion of goodwill impairment recognized during the twenty-eight weeks ended July 12, 2020.
The following table presents intangible assets as of July 12, 2020 and December 29, 2019 (in thousands):
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July 12, 2020 |
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December 29, 2019 |
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Gross
Carrying
Amount |
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Accumulated
Amortization |
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Net
Carrying
Amount |
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Gross
Carrying
Amount |
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Accumulated
Amortization |
|
Net
Carrying
Amount |
| Intangible assets subject to amortization: |
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| Franchise rights |
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$ |
50,584 |
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$ |
(36,192) |
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$ |
14,392 |
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$ |
53,336 |
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$ |
(35,896) |
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$ |
17,440 |
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| Leasehold interests |
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13,001 |
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(9,056) |
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3,945 |
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13,001 |
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(8,794) |
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4,207 |
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| Liquor licenses and other |
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10,633 |
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(9,893) |
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|
740 |
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10,737 |
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(9,869) |
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|
868 |
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$ |
74,218 |
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$ |
(55,141) |
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$ |
19,077 |
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$ |
77,074 |
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$ |
(54,559) |
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$ |
22,515 |
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| Indefinite-lived intangible assets: |
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| Liquor licenses and other |
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$ |
7,460 |
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$ |
— |
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$ |
7,460 |
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$ |
7,460 |
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$ |
— |
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$ |
7,460 |
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| Intangible assets, net |
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$ |
81,678 |
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$ |
(55,141) |
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$ |
26,537 |
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$ |
84,534 |
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$ |
(54,559) |
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$ |
29,975 |
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