Intangible Assets, Net:

The following table presents our indefinite and definite-lived intangible assets at July 1, 2018:



	Weighted Average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
		(in thousands)
Chuck E. Cheese's tradename	Indefinite	$	400,000				$	400,000
Peter Piper Pizza tradename	Indefinite	26,700					26,700
Favorable lease agreements ⁽¹⁾	10	14,880		(7,976		)	6,904
Franchise agreements	25	53,300		(8,222		)	45,078
		$	494,880	$	(16,198	)	$	478,682

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(1)

In connection with the Merger, as defined in Note 12 “Consolidating Guarantor Financial Information”, and the acquisition of Peter Piper Pizza in October 2014, we also recorded unfavorable lease liabilities of $10.2 million and $3.9 million, respectively, which are included in “Other current liabilities” and “Other noncurrent liabilities” in our Consolidated Balance Sheets. Such amounts are being amortized over a weighted average life of 10 years, and are included in “Rent expense” in our Consolidated Statements of Earnings.

Amortization expense related to favorable lease agreements was $0.3 million and $0.4 million for the three months ended July 1, 2018 and July 2, 2017, respectively, and $0.7 million and $0.9 million for the six months ended July 1, 2018 and July 2, 2017, respectively, and is included in “Rent expense” in our Consolidated Statements of Earnings. Amortization expense related to franchise agreements was $0.5 million for both the three months ended July 1, 2018 and July 2, 2017, respectively, and $1.0 million for both the six months ended July 1, 2018 and July 2, 2017, respectively, and is included in “Depreciation and amortization” in our Consolidated Statements of Earnings.