Goodwill and Intangible Assets

9 Months Ended

Sep. 25, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

D. Goodwill and Intangible Assets

There were no changes in the carrying value of goodwill during the thirteen or thirty-nine weeks ended September 25, 2021 and September 26, 2020.

The Company’s intangible assets as of September 25, 2021 and December 26, 2020 were as follows:


			As of September 25, 2021							As of December 26, 2020
	Estimated Useful		Gross Carrying		Accumulated			Net Book		Gross Carrying		Accumulated			Net Book
	Life (Years)		Value		Amortization			Value		Value		Amortization			Value
								(in thousands)
Customer Relationships		15	$	3,800	$	(570	)	$	3,230	$	3,800	$	(380	)	$	3,420
Trade Names	Indefinite			100,510		—			100,510		100,510		—			100,510
Total intangible assets			$	104,310	$	(570	)	$	103,740	$	104,310	$	(380	)	$	103,930

The Company acquired intangible assets in fiscal year 2019 that consist of $98.5 million for the value of the Dogfish Head brand name and $3.8 million for the value of customer relationships. The customer relationship intangible is amortized on a straight-line basis over a 15 year useful life. Amortization expense in the thirteen and thirty-nine weeks ended September 25, 2021 was approximately $63,000 and $190,000, respectively. The Company expects to record amortization expense as follows over the remaining current year and the five subsequent years:


Fiscal Year	Amount (in thousands)
Remainder of 2021	$	63
2022		253
2023		253
2024		253
2025		253
2026		253