| Goodwill and Intangible Assets |
Goodwill and Intangible Assets
The following table presents goodwill as of July 15, 2018 and December 31, 2017 (in thousands):
|
|
|
|
|
|
Balance, December 31, 2017 |
|
$ |
96,979 |
|
Foreign currency translation adjustment |
|
(664 |
) |
Balance, July 15, 2018 |
|
$ |
96,315 |
|
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 July 15, 2018 and December 31, 2017 (in thousands):
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July 15, 2018 |
|
December 31, 2017 |
|
|
Gross
Carrying
Amount
|
|
Accumulated
Amortization
|
|
Net
Carrying
Amount
|
|
Gross
Carrying
Amount
|
|
Accumulated
Amortization
|
|
Net
Carrying
Amount
|
Intangible assets subject to amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
Franchise rights |
|
$ |
54,422 |
|
|
$ |
(31,557 |
) |
|
$ |
22,865 |
|
|
$ |
54,447 |
|
|
$ |
(29,685 |
) |
|
$ |
24,762 |
|
Favorable leases |
|
13,001 |
|
|
(7,832 |
) |
|
5,169 |
|
|
13,001 |
|
|
(7,459 |
) |
|
5,542 |
|
Liquor licenses and other |
|
10,848 |
|
|
(9,714 |
) |
|
1,134 |
|
|
10,148 |
|
|
(9,667 |
) |
|
481 |
|
|
|
$ |
78,271 |
|
|
$ |
(49,103 |
) |
|
$ |
29,168 |
|
|
$ |
77,596 |
|
|
$ |
(46,811 |
) |
|
$ |
30,785 |
|
Indefinite-lived intangible assets: |
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|
|
|
|
|
|
|
|
|
|
|
Liquor licenses and other |
|
$ |
7,459 |
|
|
$ |
— |
|
|
$ |
7,459 |
|
|
$ |
7,488 |
|
|
$ |
— |
|
|
$ |
7,488 |
|
Intangible assets, net |
|
$ |
85,730 |
|
|
$ |
(49,103 |
) |
|
$ |
36,627 |
|
|
$ |
85,084 |
|
|
$ |
(46,811 |
) |
|
$ |
38,273 |
|
|