Goodwill, Trademarks and Other Intangibles

6 Months Ended

Jun. 29, 2013

Goodwill, Trademarks and Other Intangibles

Goodwill, Trademarks and Other Intangibles

4. Goodwill, Trademarks and Other Intangibles

Goodwill, trademarks and other intangibles, net consisted of the following (in thousands):

	Estimated Useful Life	June 29, 2013			December 29, 2012
Goodwill:
Inventure Foods, Inc.		$	5,986		$	5,986
Rader Farms, Inc.		5,630			5,630
Willamette Valley Fruit Company		3,147			—
Total Goodwill		$	14,763		$	11,616

Trademarks
Inventure Foods, Inc.		$	896		896
Rader Farms, Inc.		1,070			1,070
Willamette Valley Fruit Company		740			—

Other intangibles:
Rader - Customer relationship, gross carrying amount	10 years	100			100
Rader - Customer relationship, accum. amortization		(61		)	(56		)
WVFC — Customer relationship, gross carrying amount	10 years	3,200			—
Total trademarks and other intangibles, net		$	5,945		$	2,010

Our amortization expense related to these intangibles was $3,000 and $5,000 for the quarters and six months ended June 29, 2013 respectively, and $8,000 and $18,000 for the quarters and six months ended June 30, 2012, respectively.

Goodwill and trademarks are reviewed for impairment annually in the fourth fiscal quarter, or more frequently if impairment indicators arise. We believe the carrying values of our intangible assets are appropriate as of June 29, 2013.

- 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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