Goodwill and Other Intangible Assets

6 Months Ended

Jun. 24, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets:

Goodwill and other indefinite-lived intangible assets, including trade-names, are reviewed for impairment annually, or more frequently if indicators of impairment exist. As of June 24, 2018, there were no indicators of impairment. The Partnership's annual testing date is the first day of the fourth quarter. There were no impairments for any period presented.

A summary of changes in the Partnership’s carrying value of goodwill for the six months ended June 24, 2018 and June 25, 2017 is as follows:



(In thousands)	Goodwill (gross)			Accumulated Impairment Losses			Goodwill (net)
Balance at December 31, 2017	$	263,698		$	(79,868	)	$	183,830
Foreign currency translation	(3,644		)	—			(3,644		)
Balance at June 24, 2018	$	260,054		$	(79,868	)	$	180,186

Balance at December 31, 2016	$	259,528		$	(79,868	)	$	179,660
Foreign currency translation	710			—			710
Balance at June 25, 2017	$	260,238		$	(79,868	)	$	180,370

As of June 24, 2018, December 31, 2017, and June 25, 2017, the Partnership’s other intangible assets consisted of the following:



(In thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
June 24, 2018
Other intangible assets:
Trade names	$	35,720	$	—		$	35,720
License / franchise agreements	3,357		(2,086		)	1,271
Total other intangible assets	$	39,077	$	(2,086	)	$	36,991

December 31, 2017
Other intangible assets:
Trade names	$	36,531	$	—		$	36,531
License / franchise agreements	3,360		(1,827		)	1,533
Total other intangible assets	$	39,891	$	(1,827	)	$	38,064

June 25, 2017
Other intangible assets:
Trade names	$	35,761	$	—		$	35,761
License / franchise agreements	3,308		(1,416		)	1,892
Total other intangible assets	$	39,069	$	(1,416	)	$	37,653

Amortization expense of other intangible assets is expected to continue to be immaterial going forward.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details