XML 34 R16.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Intangible Assets, net | 12 Months Ended
--- | ---
Dec. 28, 2021
Intangible Assets, net |
Intangible Assets, net | 8. Intangible Assets, net The following table presents components of intangible assets, net (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal year ended
​ |  | December 28, 2021 |  | December 29, 2020
Indefinite-lived intangible assets: | ​ |  | ​ | ​ |  | ​
Goodwill | ​ | $ | 1,451 | ​ | $ | 1,451
Trade names and trademarks | ​ | ​ | 233,767 | ​ | ​ | 233,676
Transferable alcoholic beverage licenses | ​ |  | 7,446 | ​ |  | 7,753
Total indefinite-lived intangible assets | ​ |  | 242,664 | ​ |  | 242,880
Definite-lived intangible assets, net: | ​ |  | ​ | ​ |  | ​
Licensing agreements | ​ |  | 5,690 | ​ |  | 7,320
Non-transferable alcoholic beverage licenses | ​ |  | 3,347 | ​ |  | 2,960
Total definite-lived intangible assets | ​ |  | 9,037 | ​ |  | 10,280
Total intangible assets, net | ​ | $ | 251,701 | ​ | $ | 253,160
​ Amortization expenses related to our definite-lived intangible assets were $0.7 million, $0.7 million and $0.3 million for fiscal 2021, 2020 and 2019, respectively. Definite-lived intangible assets will be amortized over one to 54 years. We performed our annual assessment of indefinite-lived intangible assets as of the first day of our fiscal fourth quarter of fiscal 2021 and concluded there was a $1.3 million impairment of our licensing agreements. During the first quarter of fiscal 2020, we determined it was necessary to perform an interim assessment of our goodwill, trade names, trademarks and licensing agreements due to the decrease in our stock price coupled with the dining room closures related to the COVID-19 pandemic and significant decline to the equity value of our peers and overall U.S. stock market. For the goodwill impairment test, the estimated fair value of the reporting units was determined using a blend of the income approach using a discounted cash flow analysis and the market capitalization approach. The fair value of the trade names, trademarks and licensing agreements was estimated using the relief from royalty method. There were a number of estimates and significant judgments made by management in performing these evaluations, such as future unit growth, average unit volumes, cash flows, discount rates and royalty rates. Accordingly, actual results could vary significantly from such estimates. Based on the results of this assessment, we recorded goodwill impairment expense related to the Other FRC, North Italia and Flower Child operating segments of $33.8 million, $27.7 million and $17.9 million, respectively. In addition, we recorded impairment expense of $101.0 million and $2.3 million related to trade names and trademarks, and licensing agreements, respectively. More than half of the total impairment amount was driven by the impact on our market capitalization, with the balance related to lower future cash flow estimates. The reduced projections stemmed primarily from our decision to delay fiscal 2020 unit development, thereby moving our expected unit growth trajectory out by one year. The cash flow estimates assumed that average unit volumes and margins would substantially return to pre-COVID-19 levels by mid-fiscal 2021. We performed our annual assessment of indefinite-lived intangible assets as of the first day of our fiscal fourth quarter of fiscal year 2020 and concluded there was no further impairment of these assets, other than $0.4 million of expense related to transferable alcoholic beverage licenses.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration