| Goodwill and Intangible Assets, Net |
Goodwill and Intangible Assets, Net The following is a summary of the components of goodwill and intangible assets, net:
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October 2, 2023 |
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January 2, 2023 |
| (in thousands) |
Amount |
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Accumulated Amortization |
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Net Carrying Value |
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Amount |
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Accumulated Amortization |
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Net Carrying Value |
| Intangible assets subject to amortization: |
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| Franchise agreements |
$ |
24,840 |
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$ |
(9,906) |
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$ |
14,934 |
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$ |
24,839 |
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$ |
(7,245) |
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$ |
17,594 |
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| BurgerFi trade names / trademarks |
83,033 |
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(7,727) |
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75,306 |
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83,035 |
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(5,650) |
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77,385 |
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| Anthony's trade names / trademarks |
60,690 |
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(3,877) |
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56,813 |
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60,691 |
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(2,360) |
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58,331 |
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| License agreement |
1,177 |
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(1,166) |
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11 |
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1,176 |
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(1,063) |
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113 |
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| VegeFi product |
135 |
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(38) |
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97 |
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135 |
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(28) |
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107 |
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| Subtotal |
$ |
169,875
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$ |
(22,714) |
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$ |
147,161
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$ |
169,876
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$ |
(16,346) |
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$ |
153,530
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| Liquor licenses |
$ |
5,930
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$ |
— |
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$ |
5,930
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$ |
6,678
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$ |
— |
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$ |
6,678
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| Total intangible assets, net |
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$ |
153,091
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$ |
160,208
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| Goodwill: |
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| BurgerFi |
$ |
— |
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$ |
— |
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| Anthony's |
31,621 |
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31,621 |
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| Total |
$ |
31,621
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$ |
31,621
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Intangible asset amortization expense totaled $2.1 million for both the quarters ended October 2, 2023 and October 3, 2022, and $6.4 million for both the nine months ended October 2, 2023 and October 3, 2022.
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