Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v2.4.0.6
Goodwill and Intangible Assets
4 Months Ended
Apr. 21, 2013
Goodwill and Intangible Assets  
Goodwill and Intangible Assets

2.                       Goodwill and Intangible Assets

 

The following table presents goodwill as of April 21, 2013, and December 30, 2012 (in thousands):

 

Balance at December 25, 2011

 

$

61,769

 

Acquisition

 

756

 

Balance at December 30, 2012 and April 21, 2013

 

62,525

 

 

The Company has no historical goodwill impairment losses in periods prior to those presented in the above table.  Refer to Note 5, Acquisition of Red Robin Franchised Restaurant for details of the acquisition.

 

The following table presents intangible assets subject to amortization as of April 21, 2013, and December 30, 2012 (in thousands):

 

 

 

April 21, 2013

 

December 30, 2012

 

 

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net
Carrying
Amount

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net
Carrying
Amount

 

Intangible assets subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

Franchise rights

 

$

43,603

 

$

(16,097

)

$

27,506

 

$

43,519

 

$

(15,342

)

$

28,177

 

Leasehold interests

 

12,744

 

(4,546

)

8,198

 

12,744

 

(4,313

)

8,431

 

Liquor licenses

 

10,049

 

(8,861

)

1,188

 

9,095

 

(8,500

)

595

 

 

 

$

66,396

 

$

(29,504

)

$

36,892

 

$

65,358

 

$

(28,155

)

$

37,203

 

 

There were no impairments to intangible assets during the sixteen weeks ended April 21, 2013, and April 15, 2012. The amortization expense reflected in the consolidated statements of operations totaled $1.3 million and $1.4 million for the sixteen weeks ended April 21, 2013, and April 15, 2012, respectively.

 

The aggregate future amortization expense as of April 21, 2013 is as follows (in thousands):

 

Remainder of 2013

 

$

2,200

 

2014

 

3,398

 

2015

 

3,395

 

2016

 

3,229

 

2017

 

3,116

 

Thereafter

 

21,554

 

 

 

$

36,892