Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v2.4.0.6
Goodwill and Intangible Assets
12 Months Ended
Dec. 30, 2012
Goodwill and Intangible Assets  
Goodwill and Intangible Assets

5. Goodwill and Intangible Assets

        The following table presents goodwill as of December 30, 2012, and December 25, 2011, (in thousands).

 
  2012   2011  

Balance at beginning of year

  $ 61,769   $ 61,769  

Acquisitions

    756      
           

Balance at end of year

  $ 62,525   $ 61,769  
           

        The Company has no historical goodwill impairment losses in periods prior to those presented in the above table.

        The following table presents intangible assets subject to amortization as of December 30, 2012, and December 25, 2011, (in thousands):

 
  2012   2011  
 
  Gross
Carrying
Amount
  Accumulated
Amortization
  Net
Carrying
Amount
  Gross
Carrying
Amount
  Accumulated
Amortization
  Net
Carrying
Amount
 

Intangible assets subject to amortization:

                                     

Franchise rights

  $ 43,519   $ (15,342 ) $ 28,177   $ 43,494   $ (14,515 ) $ 28,979  

Leasehold interests

    12,744     (4,313 )   8,431     12,955     (3,747 )   9,208  

Liquor licenses

    9,095     (8,500 )   595     8,210     (7,428 )   782  
                           

 

  $ 65,358   $ (28,155 ) $ 37,203   $ 64,659   $ (25,690 ) $ 38,969  
                           

        There were insignificant impairments of liquor licenses related to restaurants impaired in 2011 and 2010, which are discussed in Note 3, Restaurant Impairment and Restaurant Closures. There were no other impairments of intangible assets subject to amortization in 2011 or 2010. There were no impairments to intangible assets in 2012. The aggregate amortization expense related to intangible assets subject to amortization for 2012, 2011, and 2010 was $4.6 million, $4.6 million and $4.6 million, respectively.

        The estimated aggregate future amortization expense as of December 30, 2012 is as follows, (in thousands):

2013

  $ 2,942  

2014

    3,143  

2015

    2,983  

2016

    2,837  

2017

    2,712  

Thereafer

    22,586  
       

 

  $ 37,203