Intangible Assets, Net

6 Months Ended

Sep. 24, 2016

4. Intangible Assets, Net

Net intangible assets as of September 24, 2016 and March 26, 2016 consisted of the following:


	September 24, 2016
	Gross						Weighted
	Carrying		Accumulated				Average
	Amount		Amortization		Net		Useful Life
	(in thousands, except for weighted average useful life)
Customer lists	$	7,788	$	(6,864)	$	924	4.9
Non-compete agreements		1,290		(1,101)		189	4.9
Below-market leases		5,248		(1,977)		3,271	9.2
Total definite lived		14,326		(9,942)		4,384
Trademarks—indefinite lived		59,377		—		59,377
Total intangible assets	$	73,703	$	(9,942)	$	63,761


	March 26, 2016
	Gross						Weighted
	Carrying		Accumulated				Average
	Amount		Amortization		Net		Useful Life
	(in thousands, except for weighted average useful life)
Customer lists	$	7,788	$	(6,172)	$	1,616	4.9
Non-compete agreements		1,290		(968)		322	4.9
Below-market leases		5,248		(1,702)		3,546	9.4
Total definite lived		14,326		(8,842)		5,484
Trademarks—indefinite lived		59,377		—		59,377
Total intangible assets	$	73,703	$	(8,842)	$	64,861

Amortization expense for intangible assets totaled $0.5 million for the thirteen weeks ended September 24, 2016 and $0.6 million for the thirteen weeks ended September 26, 2015, and is included in selling, general and administrative expenses.

Amortization expense for intangible assets totaled $1.1 million for the twenty-six weeks ended September 24, 2016 and $1.2 million for the twenty-six weeks ended September 26, 2015, and is included in selling, general and administrative expenses.

As of September 24, 2016, estimated future amortization of intangible assets was as follows:


Fiscal Year	(in thousands)
2017	$	923
2018		966
2019		500
2020		388
2021		314
Thereafter		1,293
Total	$	4,384

The Company performs its annual goodwill impairment test on the first day of the fourth fiscal quarter, or more frequently if it believes that indicators of impairment exist. As of September 24, 2016, the Company had identified no indicators of impairment with respect to its goodwill, intangible and long-lived asset balances.