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Intangible Assets (Notes)
 12 Months Ended
Jan. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill, Franchise Rights, Favorable and Unfavorable Leases Intangible Assets
Goodwill. The Company is required to test goodwill for impairment annually, or more frequently, when events and circumstances indicate that the carrying amount may be impaired. If the determined fair value of goodwill is less than the related carrying amount, an impairment loss is recognized. The Company performs its annual impairment assessment as of the last day of the fiscal year. In performing its goodwill impairment test, the Company compared the net book value of its reporting unit to its estimated fair value, the latter determined by employing a combination of a discounted cash flow analysis and a market-based approach. There have been no recorded goodwill impairment losses during the years ended January 3, 2021, December 29, 2019 and December 30, 2018.
Goodwill at December 30, 2018$38,469 
Acquisitions of restaurants (Note 2)84,150 
Goodwill at December 29, 2019122,619 
Acquisitions of restaurants (Note 2)— 
Goodwill at January 3, 2021$122,619 
Franchise Rights. Amounts allocated to franchise rights for each acquisition of Burger King® and Popeyes® restaurants are amortized using the straight-line method over the average remaining term of the acquired franchise agreements plus one twenty-year renewal period. The following is a summary of the Company’s franchise rights as of the respective balance sheet dates:
Balance at December 30, 2018$175,897 
Acquisitions of restaurants (Note 2)184,309 
Amortization expense(11,265)
Balance at December 29, 2019348,941 
Amortization expense(14,344)
Balance at January 3, 2021$334,597 
Amortization expense related to franchise rights for the year ended December 30, 2018 was $7.4 million. The Company expects annual amortization to be $13.7 million in each of the next five fiscal years. No impairment charges were recorded related to the Company’s franchise rights during the years ended January 3, 2021, December 29, 2019 and December 30, 2018.