Note 10

3 Months Ended

Dec. 26, 2020

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 December 26, 2020 and September 26, 2020 are as follows:

	December 26, 2020				September 26, 2020
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
	(in thousands)
FOOD SERVICE
Indefinite lived intangible assets
Trade names	$	10,408	$	-	$	10,408	$	-
Amortized intangible assets
Non compete agreements		670		658		670		645
Customer relationships		13,000		5,213		19,737		11,595
License and rights		1,690		1,333		1,690		1,312
TOTAL FOOD SERVICE	$	25,768	$	7,204	$	32,505	$	13,552
RETAIL SUPERMARKETS
Indefinite lived intangible assets
Trade names	$	12,750	$	-	$	12,750	$	-
Amortized Intangible Assets
Trade names		676		554		676		519
Customer relationships		7,907		5,338		7,907		5,140
TOTAL RETAIL SUPERMARKETS	$	21,333	$	5,892	$	21,333	$	5,659
FROZEN BEVERAGES
Indefinite lived intangible assets
Trade names	$	9,315	$	-	$	9,315	$	-
Distribution rights		36,100		-		36,100		-
Amortized intangible assets
Customer relationships		1,439		293		1,439		257
Licenses and rights		1,400		1,019		1,400		1,002
TOTAL FROZEN BEVERAGES	$	48,254	$	1,312	$	48,254	$	1,259
CONSOLIDATED	$	95,355	$	14,408	$	102,092	$	20,470

Fully amortized intangible assets have been removed from the December 26, 2020 amounts.

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 December 26, 2020 and December 28, 2019 was $679,000 and $843,000, respectively.

Estimated amortization expense for the next five fiscal years is approximately $2,500,000 in 2021, $2,300,000 in 2022, $2,300,000 in 2023, $2,000,000 in 2024 and $1,400,000 in 2025. The weighted amortization period of the intangible assets is 10.9 years.

Goodwill 

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

	Food Service		Retail Supermarket		Frozen Beverages		Total
	(in thousands)
Balance at December 26, 2020	$	61,189	$	4,146	$	56,498	$	121,833
Balance at September 26, 2020	$	61,189	$	4,146	$	56,498	$	121,833