Goodwill and Intangible Assets

12 Months Ended

Sep. 29, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

2. Goodwill and Intangible Assets:

The following table presents goodwill and intangible assets as of September 29, 2020 and September 24, 2019 (in thousands):

	September 29, 2020							September 24, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangible assets subject to amortization:
Franchise rights	$	-	$	-		$	-	$	116	$	(104	)	$	12
Non-compete agreements		50		(28	)		22		65		(26	)		39
	$	50	$	(28	)	$	22	$	181	$	(130	)	$	51
Indefinite-lived intangible assets:
Trademarks	$	3,900	$	-		$	3,900	$	3,900	$	-		$	3,900
Intangible assets, net	$	3,950	$	(28	)	$	3,922	$	4,081	$	(130	)	$	3,951
Goodwill	$	5,150	$	-		$	5,150	$	15,150	$	-		$	15,150

As previously discussed in Note 1, the Company recorded a $10,000,000 impairment to goodwill in the second fiscal quarter of 2020 related to goodwill attributable to its Bad Daddy’s reporting unit.

There were no impairments to intangible assets during the fiscal year ended September 29, 2020. The aggregate amortization expense related to these intangible assets subject to amortization was $28,000 for the fiscal year ended September 29, 2020. The Company’s franchise rights were fully amortized at the end of the second fiscal quarter of 2020 and the intangible asset and the related accumulated amortization were written off in the third fiscal quarter of 2020.

The estimated aggregate future amortization expense as of September 29, 2020 is as follows (in thousands):

2021		16
2022		6
	$	22