| 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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April 3, 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 |
$ |
24,839 |
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$ |
(8,132) |
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$ |
16,707 |
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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 |
83,035 |
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(6,343) |
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76,692 |
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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 |
60,691 |
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(2,866) |
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57,825 |
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60,691 |
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(2,360) |
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58,331 |
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| License agreement |
1,176 |
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(1,097) |
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79 |
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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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(31) |
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104 |
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135 |
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(28) |
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107 |
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| Subtotal |
169,876 |
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(18,469) |
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151,407 |
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169,876 |
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(16,346) |
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153,530 |
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| Liquor licenses |
$ |
5,928 |
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$ |
— |
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$ |
5,928 |
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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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$ |
157,335 |
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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 for the quarters ended April 3, 2023 and March 31, 2022 was $2.1 million and $2.1 million, respectively.
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