Goodwill and Other Intangible Assets

9 Months Ended

Mar. 27, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill:

The changes in the carrying amount of goodwill for the nine months ended March 27, 2022:


Balance as of June 27, 2021	$	726,156
Goodwill resulting from acquisitions	12,631
Balance as of March 27, 2022	$	738,787

Intangible Assets:


	March 27, 2022							June 27, 2021
	Weighted average life (in years)	Gross carrying amount		Accumulated amortization		Net carrying amount		Weighted average life (in years)	Gross carrying amount		Accumulated amortization		Net carrying amount
Finite-lived intangible assets:
AMF trade name	2	$	9,900	$	(8,415)	$	1,485	1	$	9,900	$	(7,920)	$	1,980
Bowlmor trade name	0	6,500		(6,500)		—		6	6,500		(2,600)		3,900
Other acquisition trade names	5	1,610		(507)		1,103		7	1,010		(173)		837
Customer relationships	2	20,652		(13,017)		7,635		3	18,370		(10,471)		7,899
Management contracts	2	1,800		(1,366)		434		2	1,800		(1,150)		650
Non-compete agreements	4	1,921		(769)		1,152		4	1,200		(514)		686
PBA member, sponsor & media relationships	8	1,400		(456)		944		8	1,400		(322)		1,078
Other intangible assets	4	921		(217)		704			—		—		—
		$	44,704	$	(31,247)	$	13,457		$	40,180	$	(23,150)	$	17,030
Indefinite-lived intangible assets:
Liquor licenses		9,735		—		9,735			9,027		—		9,027
PBA trade name		3,100		—		3,100			3,100		—		3,100
Bowlero trade name		66,900		—		66,900			66,900		—		66,900
		79,735		—		79,735			79,027		—		79,027
		$	124,439	$	(31,247)	$	93,192		$	119,207	$	(23,150)	$	96,057

The Company reviewed the estimated useful life of its Bowlmor tradename as part of the Company’s plans to rebrand its Bowlmor centers to Bowlero centers. Based on that review, the Company determined that the intangible asset associated with the Company’s Bowlmor tradename has a useful life shorter than initially estimated. During the fiscal quarter ended December 26, 2021, the Company adjusted the remaining useful life of the Bowlmor tradename from 5.75 years to 6 months. The change in useful life was made as a prospective adjustment and resulted in an increase in amortization expense of $1,706 and $3,412 for the three and nine months ended March 27, 2022, respectively.