Goodwill and Other Intangible Assets

The Company recorded goodwill in connection with the Ayrshire and Sabre acquisitions resulting primarily from the synergies that resulted from the Company’s acquisitions and the assembled workforce. The goodwill is not amortized for financial accounting purposes. The goodwill from the acquisitions is not deductible for tax purposes.

During the three months ended September 29, 2018 and September 30, 2017, no impairment was recognized. Goodwill was recorded at $10.0 million as of September 29, 2018 and June 30, 2018.

The components of acquired intangible assets are as follows (in thousands):



	September 29, 2018
	Amortization Period in Years	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangible assets:
Customer Relationships	10	4,803		(2,191		)	2,612
Favorable Lease Agreements	4 - 7	2,941		(2,057		)	884
Total		$	7,744	$	(4,248	)	$	3,496



	June 30, 2018
	Amortization Period in Years	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangible assets:
Non-Compete Agreements	3 - 5	$	568	$	(568	)	$	—
Customer Relationships	10	4,803		(2,071		)	2,732
Favorable Lease Agreements	4 - 7	2,941		(1,947		)	994
Total		$	8,312	$	(4,586	)	$	3,726

Amortization expense was approximately $230,000 and $277,000 for the three months ended September 29, 2018 and September 30, 2017, respectively.

Aggregate amortization expense relative to existing intangible assets by fiscal year is currently estimated to be as follows (in thousands):



Fiscal Years Ending	Amount
2019 ⁽¹⁾	588
2020	783
2021	784
2022	531
2023	480
Thereafter	330
Total amortization expense	$	3,496

(1) Represents estimated amortization for the remaining nine-month period ending June 29, 2019.