GOODWILL AND INTANGIBLES

12 Months Ended

Jun. 28, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLES

There have been no impairments of Goodwill for the fiscal years ended June 28, 2023, June 29, 2022 and June 30, 2021. The changes in the carrying amount of Goodwill by segment are as follows:

	June 28, 2023						June 29, 2022
	Chili’s		Maggiano’s		Consolidated		Chili’s		Maggiano’s		Consolidated
Balance at beginning of year	$	156.7	$	38.4	$	195.1	$	149.8	$	38.4	$	188.2
Changes in goodwill:
Additions(1)	—		—		—		7.2		—		7.2
Foreign currency translation adjustment	(0.1)		—		(0.1)		(0.3)		—		(0.3)
Balance at end of year	$	156.6	$	38.4	$	195.0	$	156.7	$	38.4	$	195.1

(1)In the fiscal year ended June 29, 2022, we acquired 68 domestic Chili’s restaurants previously owned by three franchise partners. Refer to Note 3 - Acquisitions for further information.

Intangible assets, net are as follows:

	June 28, 2023						June 29, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite-lived intangible assets
Chili’s reacquired franchise rights	$	28.4	$	(14.9)	$	13.5	$	29.3	$	(12.2)	$	17.1
Chili’s other	0.4		(0.4)		—		0.4		(0.4)		—
	$	28.8	$	(15.3)	$	13.5	$	29.7	$	(12.6)	$	17.1
Indefinite-lived intangible assets
Chili’s liquor licenses	$	9.6					$	9.4
Maggiano’s liquor licenses	0.8						0.9
	$	10.4					$	10.3

Amortization expenses for all definite-lived intangible assets were recorded in Depreciation and amortization in the Consolidated Statements of Comprehensive Income as follows:

	Fiscal Years Ended
	June 28, 2023		June 29, 2022		June 30, 2021
Definite-lived intangibles amortization expense	$	3.2	$	3.0	$	2.0

Annual amortization expenses for definite-lived intangible assets are estimated to be $3.0 million for fiscal 2024, $2.7 million for each of fiscal 2025, fiscal 2026, and fiscal 2027 and $1.4 million for fiscal 2028.