Goodwill and Other Intangible Assets

Changes in the carrying amount of goodwill for the fifty-two weeks ended January 1, 2019 are as follows (in thousands):



	Goodwill
Balance as of January 2, 2018	$	320,638
Acquisition of franchise-operated restaurants	893
Balance as of January 1, 2019	$	321,531

The increase in goodwill was due to an adjustment of $0.9 million related to the acquisition of three franchise-operated restaurants during the fifty-two weeks ended January 1, 2019, as described in more detail in Note 5.

The carrying value of trademarks was $220.3 million at both January 1, 2019 and January 2, 2018.

The Company’s other intangible assets at January 1, 2019 and January 2, 2018 consisted of the following (in thousands):



	January 1, 2019							January 2, 2018
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Favorable lease assets	$	13,118	$	(5,542	)	$	7,576	$	13,744	$	(4,442	)	$	9,302
Franchise rights	15,032		(4,411		)	10,621		15,284		(3,282		)	12,002
Reacquired franchise rights	417		(107		)	310		243		(49		)	194
Total amortized other intangible assets	$	28,567	$	(10,060	)	$	18,507	$	29,271	$	(7,773	)	$	21,498

During the fifty-two weeks ended January 1, 2019, the Company wrote-off $0.2 million of favorable lease assets related to the termination of three leases and $0.4 million of favorable lease assets associated with nine franchise locations were fully amortized.

During the fifty-two weeks ended January 1, 2019, the Company wrote-off $0.1 million of franchise rights associated with the closure of one franchise operated restaurant, $0.1 million of franchise rights associated with six franchise locations were fully amortized and the Company reclassified $24,000 of franchise rights as reacquired franchise rights from the acquisition of one franchise location. During the fifty-two weeks ended January 2, 2018, $0.1 million of franchise rights associated with five franchise locations were fully amortized and the Company reclassified $0.1 million of franchise rights as reacquired franchise rights from the acquisition of one franchise location.

In addition, during the fifty-two weeks ended January 1, 2019, the Company acquired $0.2 million of reacquired franchise rights in connection with the Company's purchase of two franchise-operated restaurants.

Favorable lease assets are related to below-market leasing arrangements. Favorable lease assets are amortized on a lease-by-lease basis using the straight-line method over the remaining lease terms of the underlying leases. Franchise rights are amortized using the straight-line method over the remaining life of the franchise agreements or 40 years, whichever is less. The weighted-average amortization periods as of January 1, 2019 for favorable lease assets and franchise rights equaled 6.6 years and 12.1 years, respectively.

Amortization expense for amortizable intangible assets totaled $3.1 million, $3.3 million and $3.6 million for the fifty-two weeks ended January 1, 2019, fifty-two weeks ended January 2, 2018, and fifty-three weeks ended January 3, 2017, respectively, and includes amortization of favorable lease assets of $1.7 million, $1.9 million and $2.0 million for the fifty-two weeks ended January 1, 2019, fifty-two weeks ended January 2, 2018 and fifty-three weeks ended January 3, 2017, respectively, and amortization of franchise rights of $1.4 million, $1.3 million and $1.6 million for the fifty-two weeks ended January 1, 2019, fifty-two weeks ended January 2, 2018 and fifty-three weeks ended January 3, 2017, respectively. The estimated future amortization for favorable lease assets and franchise rights for the next five fiscal years is as follows (in thousands):



	Favorable Lease Assets		Franchise Rights
2019	$	1,443	$	1,245
2020	1,171		1,176
2021	1,005		1,064
2022	922		965
2023	746		880