Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.8.0.1
Goodwill and Intangible Assets
9 Months Ended
Oct. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Goodwill and Intangible Assets
The following table presents goodwill as of October 1, 2017 and December 25, 2016 (in thousands):
Balance, December 25, 2016
 
$
95,935

Foreign currency translation adjustment
 
1,129

Balance, October 1, 2017
 
$
97,064


The Company recorded no goodwill impairment losses in the period presented in the table above or any prior periods.
The following table presents intangible assets as of October 1, 2017 and December 25, 2016 (in thousands):
 
 
October 1, 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
 
$
55,766

 
$
(30,016
)
 
$
25,750

 
$
55,902

 
$
(27,306
)
 
$
28,596

Favorable leases
 
13,931

 
(7,955
)
 
5,976

 
13,931

 
(7,400
)
 
6,531

Liquor licenses
 
10,128

 
(9,662
)
 
466

 
10,253

 
(9,857
)
 
396

 
 
$
79,825

 
$
(47,633
)
 
$
32,192

 
$
80,086

 
$
(44,563
)
 
$
35,523

Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Liquor licenses and other
 
$
7,488

 
$

 
$
7,488

 
$
6,747

 
$

 
$
6,747

Intangible assets, net
 
$
87,313

 
$
(47,633
)
 
$
39,680

 
$
86,833

 
$
(44,563
)
 
$
42,270


There was an immaterial impairment to franchise rights during the forty weeks ended October 1, 2017 related to two of the restaurants impaired in second quarter 2017. There was an immaterial impairment to franchise rights during the forty weeks ended October 2, 2016 related to one of the restaurants impaired in second quarter 2016.
The estimated aggregate future amortization expense as of October 1, 2017 is as follows (in thousands):
Remainder of 2017
 
$
1,022

2018
 
4,263

2019
 
4,216

2020
 
3,699

2021
 
3,271

Thereafter
 
15,721

 
 
$
32,192