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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible assets

The Company’s intangible assets as of March 26, 2022 and December 25, 2021 were as follows:

 

 

 

 

 

 

As of March 26, 2022

 

 

As of December 25, 2021

 

 

 

Estimated
Useful

 

 

Gross
Carrying

 

 

Accumulated

 

 

Net Book

 

 

Gross
Carrying

 

 

Accumulated

 

 

Net Book

 

 

 

Life (Years)

 

 

Value

 

 

Amortization

 

 

Value

 

 

Value

 

 

Amortization

 

 

Value

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

Customer Relationships

 

 

15

 

 

$

3,800

 

 

$

(696

)

 

$

3,104

 

 

$

3,800

 

 

$

(633

)

 

$

3,167

 

Trade Names

 

Indefinite

 

 

 

100,510

 

 

 

 

 

 

100,510

 

 

 

100,510

 

 

 

 

 

 

100,510

 

Total intangible assets

 

 

 

 

$

104,310

 

 

$

(696

)

 

$

103,614

 

 

$

104,310

 

 

$

(633

)

 

$

103,677

 

 

Schedule of amortization expense Amortization expense in the thirteen weeks ended March 26, 2022 and March 27, 2021 was approximately $63,000. The Company expects to record amortization expense as follows:

 

Fiscal Year

 

Amount (in thousands)

 

Remainder of 2022

 

$

191

 

2023

 

 

253

 

2024

 

 

253

 

2025

 

 

253

 

2026

 

 

253

 

2027

 

 

253

 

Thereafter

 

 

1,648

 

Total amortization expense

 

$

3,104