Goodwill and Intangible Assets (Tables)
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4 Months Ended |
Apr. 19, 2020 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of goodwill |
The following table presents goodwill as of April 19, 2020 and December 29, 2019 (in thousands):
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| Balance, December 29, 2019 |
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$ |
96,397 |
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| Foreign currency translation adjustment |
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(983) |
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Goodwill impairment(1)
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(95,414) |
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| Balance, April 19, 2020 |
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$ |
— |
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———————————————————
(1) See Note 2, COVID-19 Pandemic, for further discussion of goodwill impairment recognized during the sixteen weeks ended April 19, 2020.
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| Schedule of intangible assets subject to amortization |
The following table presents intangible assets as of April 19, 2020 and December 29, 2019 (in thousands):
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April 19, 2020 |
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December 29, 2019 |
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Gross
Carrying
Amount |
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Accumulated
Amortization |
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Net
Carrying
Amount |
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Gross
Carrying
Amount |
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Accumulated
Amortization |
|
Net
Carrying
Amount |
| Intangible assets subject to amortization: |
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| Franchise rights |
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$ |
50,584 |
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$ |
(35,520) |
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$ |
15,064 |
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$ |
53,336 |
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$ |
(35,896) |
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$ |
17,440 |
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| Favorable leases |
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13,001 |
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(8,957) |
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4,044 |
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13,001 |
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(8,794) |
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4,207 |
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| Liquor licenses and other |
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10,713 |
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(9,912) |
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801 |
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10,737 |
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(9,869) |
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868 |
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$ |
74,298 |
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$ |
(54,389) |
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$ |
19,909 |
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$ |
77,074 |
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$ |
(54,559) |
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$ |
22,515 |
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| Indefinite-lived intangible assets: |
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| Liquor licenses and other |
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$ |
7,460 |
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$ |
— |
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$ |
7,460 |
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$ |
7,460 |
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$ |
— |
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$ |
7,460 |
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| Intangible assets, net |
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$ |
81,758 |
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$ |
(54,389) |
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$ |
27,369 |
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$ |
84,534 |
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$ |
(54,559) |
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$ |
29,975 |
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| Schedule of intangible assets not subject to amortization |
The following table presents intangible assets as of April 19, 2020 and December 29, 2019 (in thousands):
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April 19, 2020 |
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December 29, 2019 |
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|
Gross
Carrying
Amount |
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Accumulated
Amortization |
|
Net
Carrying
Amount |
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net
Carrying
Amount |
| Intangible assets subject to amortization: |
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| Franchise rights |
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$ |
50,584 |
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$ |
(35,520) |
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$ |
15,064 |
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$ |
53,336 |
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$ |
(35,896) |
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$ |
17,440 |
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| Favorable leases |
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13,001 |
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(8,957) |
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4,044 |
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13,001 |
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(8,794) |
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4,207 |
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| Liquor licenses and other |
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10,713 |
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(9,912) |
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|
801 |
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10,737 |
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(9,869) |
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868 |
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$ |
74,298 |
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$ |
(54,389) |
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$ |
19,909 |
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$ |
77,074 |
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$ |
(54,559) |
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$ |
22,515 |
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| Indefinite-lived intangible assets: |
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| Liquor licenses and other |
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$ |
7,460 |
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$ |
— |
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$ |
7,460 |
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$ |
7,460 |
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$ |
— |
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$ |
7,460 |
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| Intangible assets, net |
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$ |
81,758 |
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$ |
(54,389) |
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$ |
27,369 |
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$ |
84,534 |
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$ |
(54,559) |
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$ |
29,975 |
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