INTANGIBLE ASSETS

3 Months Ended

Mar. 29, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

In May 2014, due to remarketing launch, the Company identified remaining name recognition and distinctiveness in its Extrinsic and American Partners trade names and decided to continue their use in operations indefinitely. The trade name assets’ useful lives were changed to indefinite lived intangible assets and were no longer amortized. At March 29, 2015, these trade names have a remaining unamortized value of $2,537,566. For the thirteen week periods ended March 29, 2015, the increase in amortization expense associated with this change would have been $198,500 and the decrease in basic and diluted net income per share associated with this change would have been approximately $0.03 per share, respectively. Finite and indefinite lived intangible assets consist of the following:



	March 29, 2015
	Gross Value		Accumulated Amortization		Net Carrying Value
Finite lives:
Customer lists	$	28,814,811	$	17,843,939	$	10,970,872
Covenant not to compete	1,323,000		536,600		786,400
	30,137,811		18,380,539		11,757,272
Indefinite lives:
Trade names	9,532,000		1,432,434		8,099,566
Total	$	39,669,811	$	19,812,973	$	19,856,838



	December 28, 2014
	Gross Value		Accumulated Amortization		Net Carrying Value
Finite lives:
Customer lists	$	25,786,810	$	16,842,524	$	8,944,286
Covenant not to compete	1,073,000		478,784		594,216
	26,859,810		17,321,308		9,538,502
Indefinite lives:
Trade names	5,618,000		1,432,434		4,185,566
Total	$	32,477,810	$	18,753,742	$	13,724,068

Estimated future amortization expense for the next five years is as follows:



Fiscal Year Ending:
2015	$	3,413,917
2016	6,070,365
2017	2,054,404
2018	160,251
2019	50,000
Thereafter	8,335
	$	11,757,272

Total amortization expense for the thirteen week periods ended March 29, 2015 and March 30, 2014 was $1,059,231 and $1,309,107, respectively.