Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v2.4.1.9
Goodwill and Intangible Assets
 4 Months Ended
Apr. 19, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Goodwill and Intangible Assets
The following table presents goodwill as of April 19, 2015 and December 28, 2014 (in thousands):
Balance, December 28, 2014
 
$
84,115

Translation adjustment
 
$
(921
)
Balance, April 19, 2015
 
$
83,194


The Company had no goodwill impairment losses in the period presented in the above table or any prior periods.
The following table presents intangible assets as of April 19, 2015 and December 28, 2014 (in thousands):
 
 
April 19, 2015
 
December 28, 2014
 
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
Intangible assets subject to amortization:
 
 
 
 
 
 
 
 
 
 
 
 
Franchise rights
 
$
50,648

 
$
(21,653
)
 
$
28,995

 
$
50,826

 
$
(20,583
)
 
$
30,243

Favorable leases
 
12,991

 
(5,755
)
 
7,236

 
12,991

 
(5,553
)
 
7,438

Liquor licenses
 
10,066

 
(9,619
)
 
447

 
10,058

 
(9,548
)
 
510

 
 
$
73,705

 
$
(37,027
)
 
$
36,678

 
$
73,875

 
$
(35,684
)
 
$
38,191

Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
   Liquor licenses and other
 
$
5,070

 
$
—

 
$
5,070

 
$
4,288

 
$
—

 
$
4,288

     Intangible assets, net
 
$
78,775

 
$
(37,027
)
 
$
41,748

 
$
78,163

 
$
(35,684
)
 
$
42,479


There were no impairments to intangible assets during the sixteen weeks ended April 19, 2015 and April 20, 2014. The aggregate amortization expense related to intangible assets subject to amortization was $1.3 million and $1.1 million for the sixteen weeks ended April 19, 2015 and April 20, 2014.
The estimated aggregate future amortization expense as of April 19, 2015 is as follows, (in thousands):
Remainder of 2015
 
$
2,837

2016
 
3,875

2017
 
3,770

2018
 
3,537

2019
 
3,594

Thereafter
 
19,065

 
 
$
36,678