Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
 9 Months Ended
Oct. 03, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
The following is a summary of the components of intangible assets and the related amortization expense:

October 3, 2022 December 31, 2021
(in thousands) Amount Accumulated Amortization Net Carrying Value Amount Accumulated Amortization Net Carrying Value
Franchise agreements $ 24,839  $ 6,358  $ 18,481  $ 24,839  $ 3,696  $ 21,143 
Trade names / trademarks 143,749  6,813  136,936  143,750  3,220  140,530 
Liquor licenses 6,679  —  6,679  6,678  —  6,678 
Other intangible assets 1,312  1,052  260  1,311  939  372 
$ 176,579  $ 14,223  $ 162,356  $ 176,578  $ 7,855  $ 168,723 
Liquor licenses are considered to have an indefinite life and reviewed for impairment at the end of each reporting period. The Company also reviews both indefinite and definite-lived intangible assets whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Intangible asset amortization expense for the three and nine months ended October 3, 2022 was $2.1 million and $6.4 million. Intangible asset amortization expense totaled $1.8 million and $5.4 million for the three and nine months ended September 30, 2021.