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Goodwill and Intangible Assets, Net

12 Months Ended

Mar. 30, 2024

5. Goodwill and Intangible Assets, Net

Our goodwill balance totaled $197.5 million for fiscal 2024. There were no changes to the carrying amount of goodwill for fiscal 2024, 2023, and 2022.

Net intangible assets consisted of the following:


	March 30, 2024
	Gross						Weighted
	Carrying		Accumulated				Average
	Amount		Amortization		Net		Useful Life

	(in thousands, except for weighted average useful life)
Customer lists—definite lived	$	345	$	(325)	$	20	5.0
Trademarks—indefinite lived		58,677		—		58,677
Total intangible assets	$	59,022	$	(325)	$	58,697


	April 1, 2023
	Gross						Weighted
	Carrying		Accumulated				Average
	Amount		Amortization		Net		Useful Life

	(in thousands, except for weighted average useful life)
Customer lists—definite lived	$	345	$	(271)	$	74	5.0
Trademarks—indefinite lived		60,677		—		60,677
Total intangible assets	$	61,022	$	(271)	$	60,751

Amortization expense for intangible assets totaled $0.1 million for each of fiscal 2024, 2023 and 2022, and is included in selling, general and administrative expenses.

The company recognized an impairment of $2.0 million related to the Sheplers indefinite lived trademark in fiscal 2024, and none in fiscal 2023 and 2022, which is included in selling, general and administrative expenses in the consolidated statements of operations. The remaining value of the Sheplers trademark is $7.2 million as of March 30, 2024.

As of March 30, 2024, estimated future amortization of intangible assets was as follows:


Fiscal year	(in thousands)
2025	$	20
Thereafter		—
Total	$	20