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Note 10

3 Months Ended

Dec. 25, 2021

Goodwill and 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 December 25, 2021 and September 25, 2021 are as follows:

	December 25, 2021				September 25, 2021
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
	(in thousands)
FOOD SERVICE

Indefinite lived intangible assets
Trade names	$	9,596	$	-	$	10,408	$	812

Amortized intangible assets
Non compete agreements		670		670		670		670
Customer relationships		13,000		6,513		13,000		6,188
License and rights		1,690		1,418		1,690		1,396
TOTAL FOOD SERVICE	$	24,956	$	8,601	$	25,768	$	9,066

RETAIL SUPERMARKETS

Indefinite lived intangible assets
Trade names	$	12,316	$	-	$	12,777	$	461

Amortized Intangible Assets
Trade names		649		649		649		649
Customer relationships		7,907		6,115		7,907		5,931
TOTAL RETAIL SUPERMARKETS	$	20,872	$	6,764	$	21,333	$	7,041


FROZEN BEVERAGES

Indefinite lived intangible assets
Trade names	$	9,315	$	-	$	9,315	$	-
Distribution rights		36,100		-		36,100		-

Amortized intangible assets
Customer relationships		1,439		437		1,439		400
Licenses and rights		1,400		1,089		1,400		1,072
TOTAL FROZEN BEVERAGES	$	48,254	$	1,526	$	48,254	$	1,472

CONSOLIDATED	$	94,082	$	16,891	$	95,355	$	17,579

Amortizing intangible assets are being amortized by the straight-line method over periods ranging from 2 to 20 years and amortization expense is reflected throughout operating expenses. Aggregate amortization expense of intangible assets for the three months ended December 25, 2021 and December 26, 2020 was $588,000 and $679,000, respectively.

Estimated amortization expense for the next five fiscal years is approximately $2,300,000 in 2022, $2,300,000 in 2023, $2,000,000 in 2024, $1,400,000 in 2025 and $1,400,000 in 2026. The weighted amortization period of the intangible assets is 11.2 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 December 25, 2021	$	61,189	$	4,146	$	56,498	$	121,833

Balance at September 25, 2021	$	61,189	$	4,146	$	56,498	$	121,833