Goodwill and Intangible Assets

9 Months Ended

Jun. 25, 2024

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets

Note 4.     Goodwill and Intangible Assets

The following table presents goodwill and intangible assets as of June 25, 2024 and September 26, 2023 (in thousands):

	June 25, 2024							September 26, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangible assets subject to amortization:
Non-compete agreements	$	50	$	(26	)	$	24	$	50	$	(14	)	$	36
Reacquired franchise rights	$	15	$	(3	)	$	12	$	15	$	-		$	15
	$	65	$	(29	)	$	36	$	65	$	(14	)	$	51
Indefinite-lived intangible assets:
Trademarks	$	3,900	$	-		$	3,900	$	3,900	$	-		$	3,900
Intangible assets, net	$	3,965	$	(29	)	$	3,936	$	3,965	$	(14	)	$	3,951
Goodwill	$	5,713	$	-		$	5,713	$	5,713	$	-		$	5,713

Intangible assets subject to amortization primarily consist of non-compete agreements associated with prior restaurant purchases. The aggregate amortization expense related to these intangible assets subject to amortization was $15,000 for the three quarters ended June 25, 2024 and $6,000 for the three quarters ended June 27, 2023. As of both June 25, 2024 and June 27, 2023, the Company had $96,000 of goodwill attributable to the Good Times reporting unit and $5,617,000 of goodwill attributable to its Bad Daddy’s reporting unit. The Company had no goodwill impairment losses in the periods presented in the above table.