Goodwill and Intangible Assets

6 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 5. Goodwill and Intangible Assets

The following table presents goodwill and intangible assets as of March 31, 2020 and September 24, 2019 (in thousands):

	March 31, 2020							September 24, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangible assets subject to amortization:
Franchise rights	$	116	$	(116	)	$	-	$	116	$	(104	)	$	12
Non-compete agreements		50		(19	)		31		65		(26	)		39
		166		(135	)		31		181		(130	)		51
Indefinite-lived intangible assets:
Trademarks		3,900		-			3,900		3,900		-			3,900
Intangible assets, net	$	4,066	$	(135	)	$	3,931	$	4,081	$	(130	)	$	3,951
Goodwill	$	5,150	$	-		$	5,150	$	15,150	$	-		$	15,150

As discussed further in Note 11, the Company recorded a $10,000,000 impairment to goodwill in the second fiscal quarter of 2020 related to goodwill attributable to its Bad Daddy’s reporting unit.

There were no impairments to intangible assets during the two quarters ended March 31, 2020. The aggregate amortization expense related to these intangible assets subject to amortization was $20,000 for the two quarters ended March 31, 2020.

The estimated aggregate future amortization expense as of March 31, 2020 is as follows (in thousands):

Remainder of 2020	$	8
2021		17
2022		6
	$	31