Goodwill and Intangible Assets

12 Months Ended

Dec. 26, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

H.	Goodwill and Intangible Assets

The change in the carrying value of goodwill and intangible assets during the fifty-two weeks ended December 26, 2020 and December 28, 2019 were as follows:

	Fifty-two weeks ended
	December 26,		December 28,
	2020		2019
	(in thousands)
Goodwill as of beginning of period	$	112,529	$	3,683
Acquired goodwill		—		108,846
Impairment of goodwill		—		—
Goodwill as of end of period	$	112,529	$	112,529

The $108.8 million of goodwill acquired during the fifty-two weeks ended December 28, 2019 is related to the Dogfish Head Transaction disclosed in Note C. No impairment of existing goodwill was recorded in any period.

The Company’s intangible assets as of December 26, 2020 and December 28, 2019 were as follows:

			As of December 26, 2020							As of December 28, 2019
	Estimated Useful Life (Years)		Gross Carrying Value		Accumulated Amortization			Net Book Value		Gross Carrying Value		Accumulated Amortization			Net Book Value
			(in thousands)							(in thousands)
Customer Relationships		15	$	3,800	$	(380	)	$	3,420	$	3,800	$	(127	)	$	3,673
Trade Names	Indefinite			100,510		—			100,510		100,599		—			100,599
Total intangible assets			$	104,310	$	(380	)	$	103,930	$	104,399	$	(127	)	$	104,272

During the fifty-two weeks ended December 28, 2019, the Company acquired intangible assets as part of the Dogfish Head Transaction disclosed in Note C, that consists of $98.5 million for the value of the Dogfish Head brand name and $3.8 million for the value of customer relationships. The customer relationship intangible asset will be amortized on a straight-line basis over the 15-year useful life. Amortization expense in the fifty-two weeks ended December 26, 2020 was approximately $253,000. The Company expects to record amortization expense as follows over the five subsequent years:

Fiscal Year	Amount
	(in thousands)
2021	$	253
2022		253
2023		253
2024		253
2025		253