Goodwill and Intangible Assets, Net (Tables)

12 Months Ended

Dec. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill Activity

The following table presents changes in the carrying value of goodwill for the periods ended December 30, 2018 and December 31, 2017:

	December 30, 2018		December 31, 2017
	(in thousands)
Balance at beginning of period	$	484,438	$	483,876
Goodwill assigned in acquisition of franchisee (1)	—		562
Balance at end of period	$	484,438	$	484,438

__________________

(1) Represents goodwill related to two franchise venues the Company acquired in the second quarter of 2017. The acquisition did not have a significant impact on our Consolidated Balance Sheet as of December 31, 2017 or on our Consolidated Statements of Earnings for Fiscal 2017.

Schedule of Indefinite-Lived Intangible Assets

The following table presents our indefinite and definite-lived intangible assets at December 30, 2018 and December 31, 2017:

		December 30, 2018							December 31, 2017
	Weighted Average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
		(in thousands)
Chuck E. Cheese's tradename	Indefinite	$	400,000	$	—		$	400,000	$	400,000	$	—		$	400,000
Peter Piper Pizza tradename	Indefinite	26,700		—			26,700		26,700		—			26,700
Favorable lease agreements (1)	10	14,880		(8,550		)	6,330		14,880		(7,306		)	7,574
Franchise agreements	25	53,300		(9,245		)	44,055		53,300		(7,197		)	46,103
		$	494,880	$	(17,795	)	$	477,085	$	494,880	$	(14,503	)	$	480,377

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(1) In connection with the Merger, as defined in Note 19 “Consolidating Guarantor Financial Information”, and the acquisition of Peter Piper Pizza (“PPP”) in October 2014 (the “PPP Acquisition”), we also recorded unfavorable lease liabilities of $10.2 million and $3.9 million, respectively, which are included in “Other current liabilities” and “Other noncurrent liabilities” in our Consolidated Balance Sheets. Such amounts are being amortized over a weighted average life of 10 years, and are included in “Rent expense” in our Consolidated Statements of Earnings.

Schedule of Finite-Lived Intangible Assets

The following table presents our indefinite and definite-lived intangible assets at December 30, 2018 and December 31, 2017:

		December 30, 2018							December 31, 2017
	Weighted Average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
		(in thousands)
Chuck E. Cheese's tradename	Indefinite	$	400,000	$	—		$	400,000	$	400,000	$	—		$	400,000
Peter Piper Pizza tradename	Indefinite	26,700		—			26,700		26,700		—			26,700
Favorable lease agreements (1)	10	14,880		(8,550		)	6,330		14,880		(7,306		)	7,574
Franchise agreements	25	53,300		(9,245		)	44,055		53,300		(7,197		)	46,103
		$	494,880	$	(17,795	)	$	477,085	$	494,880	$	(14,503	)	$	480,377

__________________

(1) In connection with the Merger, as defined in Note 19 “Consolidating Guarantor Financial Information”, and the acquisition of Peter Piper Pizza (“PPP”) in October 2014 (the “PPP Acquisition”), we also recorded unfavorable lease liabilities of $10.2 million and $3.9 million, respectively, which are included in “Other current liabilities” and “Other noncurrent liabilities” in our Consolidated Balance Sheets. Such amounts are being amortized over a weighted average life of 10 years, and are included in “Rent expense” in our Consolidated Statements of Earnings.

Schedule of Estimated Future Amortization Expense

Our estimated future amortization expense related to the favorable lease agreements and franchise agreements is set forth as follows (in thousands):

	Favorable Lease Agreements		Franchise Agreements
Fiscal 2019	$	1,102	$	2,049
Fiscal 2020	1,050		2,088
Fiscal 2021	846		2,049
Fiscal 2022	753		2,049
Fiscal 2023	631		2,049
Thereafter	1,948		33,771
	$6,330		$44,055