Note 10

9 Months Ended

Jun. 29, 2019

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note 10 Our three reporting units, which are also reportable segments, are Food Service, Retail Supermarkets and Frozen Beverages.

The carrying amounts of acquired intangible assets for the Food Service, Retail Supermarkets and Frozen Beverage segments as of June 29, 2019 and September 29, 2018 are as follows:

	June 29, 2019				September 29, 2018
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
	(in thousands)
FOOD SERVICE
Indefinite lived intangible assets
Trade names	$	16,628	$	-	$	16,628	$	-
Amortized intangible assets
Non-compete agreements		858		622		980		538
Customer relationships		19,900		9,473		20,510		8,600
Licenses and rights		1,690		1,206		1,690		1,143
TOTAL FOOD SERVICE	$	39,076	$	11,301	$	39,808	$	10,281
RETAIL SUPERMARKETS
Indefinite lived intangible assets
Trade names	$	6,557	$	-	$	6,557	$	-
Amortized Intangible Assets
Trade names		649		357		649		260
Customer relationships		7,979		4,223		7,979		3,623
TOTAL RETAIL SUPERMARKETS	$	15,185	$	4,580	$	15,185	$	3,883
FROZEN BEVERAGES
Indefinite lived intangible assets
Trade names	$	9,315	$	-	$	9,315	$	-
Distribution rights		6,900				6,900		-
Amortized intangible assets
Customer relationships		737		95		257		76
Licenses and rights		1,400		916		1,400		863
TOTAL FROZEN BEVERAGES	$	18,352	$	1,011	$	17,872	$	939
CONSOLIDATED	$	72,613	$	16,892	$	72,865	$	15,103

Fully amortized intangible assets have been removed from the June 29, 2019 amounts. Intangible assets of $480,000 were acquired in the Frozen Beverages segment in the third quarter.

Amortizing intangible assets are being amortized by the straight-line method over periods ranging from 2 to 20 years and amortization expense is reflected throughout operating expenses.

Aggregate amortization expense of intangible assets for the three months ended June 29, 2019 and June 30, 2018 was $836,000 and $876,000, respectively. Aggregate amortization expense of intangible assets for the nine months ended June 29, 2019 and June 30, 2018 was $2,521,000 and $2,626,000, respectively.

Estimated amortization expense for the next five fiscal years is approximately $3,300,000 in 2019, $3,000,000 in 2020, $2,400,000 in 2021, and $2,300,000 in 2022 and in 2023. The weighted amortization period of the intangible assets is 10.7 years.

Goodwill 

The carrying amounts of goodwill for the Food Service, Retail Supermarket and Frozen Beverage segments are as follows:

	Food		Retail		Frozen
	Service		Supermarket		Beverages		Total
	(in thousands)
Balance at June 29, 2019	$	61,665	$	3,670	$	37,176	$	102,511
Balance at September 29, 2018	$	61,665	$	3,670	$	37,176	$	102,511