Goodwill and Intangibles

There were no changes to goodwill during the thirty-nine weeks ended May 25, 2019.

Intangible assets, net in our Condensed Consolidated Balance Sheets consist of the following:



		May 25, 2019
(In thousands)	Useful life	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life	$	232,000	$	—	$	232,000
Intangible assets with finite lives:
Customer relationships	15 years	59,000		7,398		51,602
Proprietary recipes and formulas	7 years	7,000		1,881		5,119
Licensing agreements	14 years	22,000		2,956		19,044
		$	320,000	$	12,235	$	307,765



		August 25, 2018
(In thousands)	Useful life	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life	$	232,000	$	—	$	232,000
Intangible assets with finite lives:
Customer relationships	15 years	59,000		4,448		54,552
Proprietary recipes and formulas	7 years	7,000		1,131		5,869
Licensing agreements	14 years	22,000		1,778		20,222
		$	320,000	$	7,357	$	312,643

Intangible assets, net changed due to amortization expense. Amortization expense related to intangible assets during the thirteen weeks ended May 25, 2019 and May 26, 2018 were $1.6 million and $1.6 million, respectively. Amortization expense related to intangible assets during the thirty-nine weeks ended May 25, 2019 and May 26, 2018 were $4.9 million and $4.9 million, respectively.

Estimated future amortization for each of the next five fiscal years and thereafter is as follows:



(In thousands by fiscal year)
Remainder of 2019	$	1,627
2020	6,505
2021	6,505
2022	6,505
2023	6,505
2024 and thereafter	48,118
Total	$	75,765