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Goodwill and Intangible Assets, Net (Tables)
12 Months Ended
Jan. 06, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Goodwill and Intangible Assets

A summary of goodwill and intangible assets as of January 6, 2024 and December 31, 2022 is as follows:

 

 

January 6, 2024

 

 

Weighted Average
Remaining Useful
Life (Years)

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Value

 

Franchisee relationships

 

 

4.72

 

 

$

114,594

 

 

$

(60,484

)

 

$

54,110

 

Reacquired rights

 

 

6.30

 

 

 

76,545

 

 

 

(30,396

)

 

 

46,149

 

 

 

 

 

 

191,139

 

 

 

(90,880

)

 

 

100,259

 

Indefinite-lived intangible:

 

 

 

 

 

 

 

 

 

 

 

 

Trade name

 

N/A

 

 

 

63,814

 

 

 

 

 

 

63,814

 

Total intangible assets

 

 

 

 

$

254,953

 

 

$

(90,880

)

 

$

164,073

 

Goodwill

 

 

 

 

$

328,551

 

 

$

 

 

$

328,551

 

 

 

December 31, 2022

 

 

Weighted Average
Remaining Useful
Life (Years)

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Value

 

Franchisee relationships

 

 

5.73

 

 

$

114,594

 

 

$

(48,889

)

 

$

65,705

 

Reacquired rights

 

 

7.31

 

 

 

76,545

 

 

 

(23,034

)

 

 

53,511

 

 

 

 

 

 

191,139

 

 

 

(71,923

)

 

 

119,216

 

Indefinite-lived intangible:

 

 

 

 

 

 

 

 

 

 

 

 

Trade name

 

N/A

 

 

 

63,814

 

 

 

 

 

 

63,814

 

Total intangible assets

 

 

 

 

$

254,953

 

 

$

(71,923

)

 

$

183,030

 

Goodwill

 

 

 

 

$

328,551

 

 

$

 

 

$

328,551

 

Schedule of Future Amortization Expenses of Intangible Assets

Future expected amortization expense of the Company’s intangible assets as of January 6, 2024 is as follows:

 

Fiscal Years Ending

 

Franchisee
Relationships

 

 

Reacquired
Rights

 

2024

 

$

11,595

 

 

$

7,362

 

2025

 

 

11,595

 

 

 

7,362

 

2026

 

 

11,595

 

 

 

7,362

 

2027

 

 

11,595

 

 

 

7,362

 

2028

 

 

7,730

 

 

 

7,362

 

Thereafter

 

 

 

 

 

9,339

 

Total

 

$

54,110

 

 

$

46,149