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Intangible Assets, Net and Goodwill

9 Months Ended

Dec. 28, 2019

4. Intangible Assets, Net and Goodwill

Net intangible assets as of December 28, 2019 and March 30, 2019 consisted of the following (in thousands, except for weighted average useful life):


	December 28, 2019
	Gross						Weighted
	Carrying		Accumulated				Average
	Amount		Amortization		Net		Useful Life
Customer lists	$	851	$	(516)	$	335	3.8
Trademarks—definite lived		15		(8)		7	3.0
Total definite lived		866		(524)		342
Trademarks—indefinite lived		60,677		—		60,677
Total intangible assets	$	61,543	$	(524)	$	61,019


	March 30, 2019
	Gross						Weighted
	Carrying		Accumulated				Average
	Amount		Amortization		Net		Useful Life
Customer lists	$	506	$	(393)	$	113	3.0
Below-market leases		5,011		(2,967)		2,044	11.5
Trademarks-definite lived		15		(4)		11	3.0
Total definite lived		5,532		(3,364)		2,168
Trademarks—indefinite lived		60,677		—		60,677
Total intangible assets	$	66,209	$	(3,364)	$	62,845

Amortization expense for intangible assets totaled less than $0.1 million for the thirteen weeks ended December 28, 2019 and $0.1 million for the thirteen weeks ended December 29, 2018, and is included in selling, general and administrative expenses.

Amortization expense for intangible assets totaled $0.1 million for the thirty-nine weeks ended December 28, 2019 and $0.5 million for the thirty-nine weeks ended December 29, 2018, and is included in selling, general and administrative expenses.

As of December 28, 2019, estimated future amortization of intangible assets was as follows:


Fiscal Year	(in thousands)
2020	$	45
2021		89
2022		72
2023		62
2024		54
Thereafter		20
Total	$	342

The Company performs its annual goodwill impairment assessment on the first day of the fourth fiscal quarter, or more frequently if it believes that indicators of impairment exist. The Company’s goodwill balance was $197.5 million and $195.9 million as of December 28, 2019 and March 30, 2019, respectively. As of December 28, 2019, the Company had identified no indicators of impairment with respect to its goodwill and intangible asset balances. During the thirteen and thirty-nine weeks ended December 28, 2019, the Company did not record any long-lived asset impairment charges related to its stores. During the thirteen and thirty-nine weeks ended December 29, 2018, the Company recorded long-lived asset impairment charges of $0.2 million and $0.5 million, respectively, related to its stores.

The change in the carrying amount of goodwill is as follows (in thousands):


Goodwill	December 28, 2019
Balance as of March 30, 2019	$	195,858
Goodwill as a result of the G.&L. Clothing Inc. Acquisition		1,644
Balance as of December 28, 2019	$	197,502