Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.7.0.1
Goodwill and Intangible Assets
4 Months Ended
Apr. 16, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Goodwill and Intangible Assets
There were no changes in the carrying amount of goodwill during the sixteen weeks ended April 16, 2017. Additionally, the Company recorded no goodwill impairment losses during the sixteen weeks ended April 16, 2017 or any prior periods.
The following table presents intangible assets as of April 16, 2017 and December 25, 2016 (in thousands):
 
 
April 16, 2017
 
December 25, 2016
 
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
Intangible assets subject to amortization:
 
 
 
 
 
 
 
 
 
 
 
 
Franchise rights
 
$
55,902

 
$
(28,445
)
 
$
27,457

 
$
55,902

 
$
(27,306
)
 
$
28,596

Favorable leases
 
13,931

 
(7,622
)
 
6,309

 
13,931

 
(7,400
)
 
6,531

Liquor licenses
 
10,338

 
(9,882
)
 
456

 
10,253

 
(9,857
)
 
396

 
 
$
80,171

 
$
(45,949
)
 
$
34,222

 
$
80,086

 
$
(44,563
)
 
$
35,523

Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Liquor licenses and other
 
$
7,486

 
$

 
$
7,486

 
$
6,747

 
$

 
$
6,747

Intangible assets, net
 
$
87,657

 
$
(45,949
)
 
$
41,708

 
$
86,833

 
$
(44,563
)
 
$
42,270


There were no impairments to intangible assets during the sixteen weeks ended April 16, 2017 and April 17, 2016. The aggregate amortization expense related to intangible assets subject to amortization was $1.6 million and $1.5 million for the sixteen weeks ended April 16, 2017 and April 17, 2016.
The estimated aggregate future amortization expense as of April 16, 2017 is as follows (in thousands):
Remainder of 2017
 
$
3,091

2018
 
4,264

2019
 
4,217

2020
 
3,696

2021
 
3,264

Thereafter
 
15,690

 
 
$
34,222