Goodwill and Intangible Assets

3 Months Ended

Mar. 27, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

C. Goodwill and Intangible Assets

There were no changes in the carrying value of goodwill during the thirteen weeks ended March 27, 2021 and March 28, 2020.

The Company’s intangible assets as of March 27, 2021 and December 26, 2020 were as follows:

			As of March 27, 2021							As of December 26, 2020
	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	$	(443	)	$	3,357	$	3,800	$	(380	)	$	3,420
Trade Names	Indefinite			100,510		—			100,510		100,510		—			100,510
Total intangible assets			$	104,310	$	(443	)	$	103,867	$	104,310	$	(380	)	$	103,930

The Company acquired intangible assets in fiscal year 2019 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 will be amortized on a straight-line basis over the 15 year useful life. Amortization expense in the thirteen weeks ended March 27, 2021 was approximately $63,000. The Company expects to record amortization expense as follows over the remaining current year and the five subsequent years:

Fiscal Year	Amount (in thousands)
Remainder of 2021	$	190
2022		253
2023		253
2024		253
2025		253
2026		253