XML 40 R17.htm IDEA: XBRL DOCUMENT

Note 10

6 Months Ended

Mar. 29, 2014

Disclosure Text Block [Abstract]

Intangible Assets Disclosure [Text Block]

Note 10

Our three reporting units, which are also reportable segments, are Food Service, Retail Supermarkets and Frozen Beverages.

The carrying amounts of acquired intangible assets for the Food Service, Retail Supermarkets and Frozen Beverage segments as of March 29, 2014 and September 29, 2013 are as follows:

		March 29, 2014								September 28, 2013
		Gross Carrying Amount				Accumulated Amortization				Gross Carrying Amount				Accumulated Amortization
		(in thousands)

FOOD SERVICE
Indefinite lived intangible assets
Trade Names		$	13,072			$	-			$	12,880			$	-

Amortized intangible assets
Non compete agreements			592				493				545				478
Customer relationships			40,797				28,051				40,187				26,187
License and rights			3,606				2,661				3,606				2,614
		$	58,067			$	31,205			$	57,218			$	29,279

RETAIL SUPERMARKETS

Indefinite lived intangible assets
Trade Names		$	4,006			$	-			$	4,006			$	-

Amortized Intangible Assets
Customer relationships			279				78				279				62
		$	4,285			$	78			$	4,285			$	62


FROZEN BEVERAGES

Indefinite lived intangible assets
Trade Names		$	9,315			$	-			$	9,315			$	-

Amortized intangible assets
Non compete agreements			198				198				198				198
Customer relationships			6,478				5,139				6,478				4,830
Licenses and rights			1,601				749				1,601				714
		$	17,592			$	6,086			$	17,592			$	5,742

CONSOLIDATED		$	79,944			$	37,369			$	79,095			$	35,083

Amortized intangible assets are being amortized by the straight-line method over periods ranging from 3 to 20 years and amortization expense is reflected throughout operating expenses. Intangible assets of $849,000 were acquired in the food service segment in the New York Pretzel acquisition in the three months ended December 28, 2013. Aggregate amortization expense of intangible assets for the three months ended March 29, 2014 and March 30, 2013 was $1,143,000 and $1,113,000, respectively and for the six months ended March 29,2014 and March 30, 2013 was $2,286,000 and $2,232,000, respectively.

Estimated amortization expense for the next five fiscal years is approximately $4,600,000 in 2014, $4,500,000 in 2015 and $4,300,000 in 2016, $1,800,000 in 2017 and $1,000,000 in 2018. The weighted average amortization period of the intangible assets is 10.1 years.

Goodwill

The carrying amounts of goodwill for the Food Service, Retail Supermarket and Frozen Beverage segments are as follows:

Food

Service

Retail

Supermarket

Frozen

Beverages

Total

(in thousands)

Balance at March 29, 2014

$

46,831

$

1,844

$

35,940

$

84,615

Goodwill of $7,716,000 was acquired in the New York Pretzel acquisition in the three months ended December 28, 2013, all of which was allocated to the food service segment.