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Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 27, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in goodwill
Changes in goodwill are summarized below (in thousands):
Balance December 30, 2014
$
294,626

  Fiscal 2015 activity
—

Balance December 29, 2015
294,626

  Acquisition of Wendy’s businesses
1,500

Balance December 27, 2016
$
296,126
Weighted average amortization period for all intangible assets
The weighted average amortization period for all intangible assets is as follows:
 
Years
Franchise rights, Pizza Hut operations
41
Franchise rights, Wendy’s operations
18
Favorable leasehold interests
16
Unfavorable leasehold interests
9
Intangible assets subject to amortization
Intangible assets subject to amortization are summarized below (in thousands):
 
 
December 27, 2016
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Net Book
Value
Amortizable intangible assets:
 
 
 
 
 
Franchise rights
$
706,265

 
$
(87,944
)
 
$
618,321

Favorable leasehold interests
13,172

 
(5,030
)
 
8,142

Unfavorable leasehold interests
(16,873
)
 
9,830

 
(7,043
)
 
$
702,564

 
$
(83,144
)
 
$
619,420

 
December 29, 2015
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Net Book
Value
Amortizable intangible assets:
 
 
 
 
 
Franchise rights
$
688,825

 
$
(68,307
)
 
$
620,518

Favorable leasehold interests
13,850

 
(4,354
)
 
9,496

Unfavorable leasehold interests
(17,105
)
 
8,139

 
(8,966
)
 
$
685,570

 
$
(64,522
)
 
$
621,048


Amortization expense on intangible assets was $18.6 million, $17.9 million and $17.3 million for fiscal 2016, fiscal 2015 and fiscal 2014, respectively.
Annual amortization during the next five fiscal years is expected to be as follows (in thousands):
Fiscal years:
 
 
2017
$
18,900

 
2018
18,940

 
2019
19,015

 
2020
18,882

 
2021
19,125