NOTE 5 – GOODWILL AND INTANGIBLE ASSETS

The changes in goodwill during fiscal 2019 and 2018 were as follows:



	Dollars in thousands
Balance at March 25, 2017	$	501,736
Fiscal 2018 acquisitions		19,825
Adjustments to fiscal 2017 purchase accounting		1,331
Balance at March 31, 2018		522,892
Fiscal 2019 acquisitions		42,124
Adjustments to fiscal 2018 purchase accounting		487
Balance at March 30, 2019	$	565,503

The composition of other intangible assets is as follows:



	Year Ended Fiscal March
	2019				2018
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
	(Dollars in thousands)
Customer lists	$	39,710	$	23,258	$	33,832	$	19,637
Favorable leases		30,315		11,049		27,656		9,470
Trade names		21,252		10,851		20,852		9,644
Franchise agreements		7,220		2,259		7,220		1,713
Other intangible assets		590		563		590		543
Total intangible assets	$	99,087	$	47,980	$	90,150	$	41,007

Monro’s intangible assets are being amortized over their estimated useful lives. The weighted average useful lives of Monro’s intangible assets are approximately 10 years for customer lists, 13 years for favorable leases, 14 years for trade names, 13 years for franchise agreements and five years for other intangible assets.

Amortization of intangible assets, excluding amortization of favorable leases included in rent expense, during fiscal 2019, 2018 and 2017 totaled $5.3 million, $5.0 million and $5.1 million, respectively.

Estimated future amortization of intangible assets is as follows:



	Customer lists/
	Trade names/
	Franchise agreements/		Favorable
Year Ending Fiscal March	Other		Leases
	(Dollars in thousands)
2020	$	4,606	$	2,464
2021		3,701		2,430
2022		3,378		2,281
2023		3,123		2,156
2024		2,759		1,946