Goodwill, Trademarks, and Other Intangible Assets:

12 Months Ended

Dec. 29, 2012

Goodwill, Trademarks, and Other Intangible Assets:

Goodwill, Trademarks, and Other Intangible Assets:

2. Goodwill, Trademarks, and Other Intangible Assets:

Goodwill, trademarks and other intangibles, net consisted of the following as of December 29, 2012 and December 31, 2011:

	Estimated Useful Life	December 29, 2012			December 31, 2011
Goodwill:
Inventure Foods, Inc.		$	5,986,252		$	5,986,252
Rader Farms, Inc.		5,629,973			5,629,973
Total goodwill		$	11,616,225		$	11,616,225

Trademarks:
Inventure Foods, Inc.		$	895,659		$	895,659
Rader Farms, Inc.		1,070,000			1,070,000

Other intangibles:
Rader - Covenant-not-to-compete, gross carrying amount	5 years	—			160,000
Rader - Covenant-not-to-compete, accum. amortization		—			(146,685		)
Rader - Customer relationship, gross carrying amount	10 years	100,000			100,000
Rader - Customer relationship, accum. amortization		(55,810		)	(45,814		)
Total trademarks and other intangibles, net		$	2,009,849		$	2,033,160

The trademarks are deemed to have an indefinite useful life because they are expected to generate cash flows indefinitely. Amortization expense was $0.02 million and $0.04 million for the years ending December 29, 2012 and December 31, 2011, respectively. The non-compete agreements were fully amortized in May 2012. As of December 29, 2012, we expect amortization expense on these intangible assets over the next five years to be as follows:

Years Ending,	Amortization Expense
2013	$	10,000
2014	10,000
2015	10,000
2016	10,000
2017	4,190
Thereafter	—
Total	$	44,190

Goodwill and trademarks are reviewed for impairment annually in the fourth fiscal quarter, or more frequently if impairment indicators arise. Goodwill is required to be tested for impairment between the annual tests if an event occurs or circumstances change that more-likely-than-not reduces the fair value of a reporting unit below its carrying value. Intangible assets with indefinite lives are required to be tested for impairment between the annual tests if an event occurs or circumstances change indicating that the asset might be impaired. We believe the carrying values of our intangible assets are appropriate.

- 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.

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