GOODWILL AND INTANGIBLES

12 Months Ended

Jun. 26, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

There have been no impairments of Goodwill for the fiscal years ended June 26, 2024, June 28, 2023 and June 29, 2022. The changes in the carrying amount of Goodwill by segment are as follows:


	June 26, 2024						June 28, 2023
	Chili’s		Maggiano’s		Consolidated		Chili’s		Maggiano’s		Consolidated
Balance at beginning of year	$	156.6	$	38.4	$	195.0	$	156.7	$	38.4	$	195.1
Changes in goodwill:

Foreign currency translation adjustment	(0.2)		—		(0.2)		(0.1)		—		(0.1)
Balance at end of year	$	156.4	$	38.4	$	194.8	$	156.6	$	38.4	$	195.0

Intangible assets, net are as follows:


	June 26, 2024						June 28, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite-lived intangible assets
Chili’s reacquired franchise rights (1)	$	26.0	$	(16.2)	$	9.8	$	28.4	$	(14.9)	$	13.5
Chili’s other	0.4		(0.4)		—		0.4		(0.4)		—
	$	26.4	$	(16.6)	$	9.8	$	28.8	$	(15.3)	$	13.5

Indefinite-lived intangible assets
Chili’s liquor licenses	$	9.3					$	9.6
Maggiano’s liquor licenses	0.8						0.8
	$	10.1					$	10.4

(1) The carrying value of Definite-lived intangible assets was adjusted for closure write offs and impairment charges in fiscal 2024 and 2023.

Amortization expenses for all definite-lived intangible assets were recorded in Depreciation and amortization in the Consolidated Statements of Comprehensive Income as follows:


	Fiscal Years Ended
	June 26, 2024		June 28, 2023		June 29, 2022
Definite-lived intangibles amortization expense	$	3.0	$	3.2	$	3.0

Annual amortization expenses for definite-lived intangible assets are estimated to be $2.7 million for fiscal 2025 and fiscal 2026, $2.6 million for fiscal 2027, $0.9 million fiscal 2028 and $0.5 million for fiscal 2029.