Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net

v3.23.1
Goodwill and Intangible Assets, Net
3 Months Ended
Apr. 03, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net Goodwill and Intangible Assets, Net
The following is a summary of the components of goodwill and intangible assets, net:

April 3, 2023 January 2, 2023
(in thousands) Amount Accumulated Amortization Net Carrying Value Amount Accumulated Amortization Net Carrying Value
Intangible assets subject to amortization:
Franchise agreements $ 24,839  $ (8,132) $ 16,707  $ 24,839  $ (7,245) $ 17,594 
BurgerFi trade names / trademarks 83,035  (6,343) 76,692  83,035  (5,650) 77,385 
Anthony's trade names / trademarks 60,691  (2,866) 57,825  60,691  (2,360) 58,331 
License agreement 1,176  (1,097) 79  1,176  (1,063) 113 
VegeFi product 135  (31) 104  135  (28) 107 
Subtotal 169,876  (18,469) 151,407  169,876  (16,346) 153,530 
Liquor licenses $ 5,928  $ —  $ 5,928  $ 6,678  $ —  $ 6,678 
Total intangible assets, net $ 157,335  $ 160,208 
Goodwill:
BurgerFi $ —  $ — 
Anthony's 31,621  31,621 
Total $ 31,621  $ 31,621 


Intangible asset amortization expense for the quarters ended April 3, 2023 and March 31, 2022 was $2.1 million and $2.1 million, respectively.