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Note 10

6 Months Ended

Mar. 26, 2022

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 March 26, 2022 and September 25, 2021 are as follows:

	March 26, 2022				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		6,838		13,000		6,188
License and rights		1,690		1,438		1,690		1,396
TOTAL FOOD SERVICE	$	24,956	$	8,946	$	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		6,308		7,907		5,931
TOTAL RETAIL SUPERMARKETS	$	20,872	$	6,957	$	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		473		1,439		400
Licenses and rights		1,400		1,107		1,400		1,072
TOTAL FROZEN BEVERAGES	$	48,254	$	1,580	$	48,254	$	1,472

CONSOLIDATED	$	94,082	$	17,483	$	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 March 26, 2022 and March 27, 2021 was $594,000 and $777,000, respectively. Aggregate amortization expense of intangible assets for the six months ended March 26, 2022 and March 27, 2021 was $1,174,000 and $1,457,000, 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, in total, is 11.2 years. The weighted amortization period by intangible asset class is 10.0 years for Customer relationships and 20.0 years for Licenses & rights.

Goodwill

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

	Food		Retail		Frozen
	Service		Supermarket		Beverages		Total
	(in thousands)
Balance at March 26, 2022	$	61,189	$	4,146	$	56,498	$	121,833

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