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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 10. Goodwill and Intangible Assets A summary of goodwill for each of the Company’s applicable reportable segments from January 3, 2021 to December 31, 2023 is as follows:
(in thousands) |  | UK |  |  | North America |  |  | Europe and ROW |  |  | Total |
January 3, 2021 |  | $ | 101,602 |  |  | $ | 28,780 |  |  | $ | 71,100 |  |  | $ | 201,482 |
Cipura Acquisition (Note 3) |  |  | — |  |  |  | 16,623 |  |  |  | — |  |  |  | 16,623 |
LINE and Saguaro Acquisition (Note 3) |  |  | — |  |  |  | 2,043 |  |  |  | — |  |  |  | 2,043 |
Foreign currency translation adjustment |  |  | (937 | ) |  |  | — |  |  |  | (4,954 | ) |  |  | (5,891 | )
January 2, 2022 |  | $ | 100,665 |  |  | $ | 47,446 |  |  | $ | 66,146 |  |  | $ | 214,257 |
Foreign currency translation adjustment |  |  | (10,690 | ) |  |  | — |  |  |  | (3,921 | ) |  |  | (14,611 | )
January 1, 2023 |  | $ | 89,975 |  |  | $ | 47,446 |  |  | $ | 62,225 |  |  | $ | 199,646 |
Foreign currency translation adjustment |  |  | 4,684 |  |  |  | — |  |  |  | 1,955 |  |  |  | 6,639 |
December 31, 2023 |  | $ | 94,659 |  |  | $ | 47,446 |  |  | $ | 64,180 |  |  | $ | 206,285 |
The opening goodwill balance originates from the acquisition of Soho House Holdings Limited by affiliates of the Yucaipa Companies, LLC, as described in Note 2, Summary of Significant Accounting Policies – Goodwill. There were no goodwill impairment charges during the fiscal years ended December 31, 2023, January 1, 2023, and January 2, 2022. A summary of finite-lived intangible assets as of December 31, 2023 and January 1, 2023 is as follows:
|  |  | As of |
|  |  | December 31, 2023 |  |  | January 1, 2023 |
(in thousands) | Average Amortization Period (in years) |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Brand | 24 |  | $ | 111,634 |  |  | $ | 55,140 |  |  | $ | 56,494 |  |  | $ | 109,420 |  |  | $ | 50,358 |  |  | $ | 59,062 |
Membership list | 20 |  | $ | 15,905 |  |  | $ | 9,666 |  |  | $ | 6,239 |  |  |  | 15,748 |  |  |  | 8,890 |  |  |  | 6,858 |
Hotel management agreements | 15 |  | $ | 23,600 |  |  | $ | 3,974 |  |  | $ | 19,626 |  |  |  | 23,600 |  |  |  | 2,401 |  |  |  | 21,199 |
Website, internal-use software development costs, and other | 5 |  | $ | 94,366 |  |  | $ | 49,485 |  |  | $ | 44,881 |  |  |  | 72,813 |  |  |  | 33,964 |  |  |  | 38,849 |
|  |  | $ | 245,505 |  |  | $ | 118,265 |  |  | $ | 127,240 |  |  | $ | 221,581 |  |  | $ | 95,613 |  |  | $ | 125,968 |
Refer to Note 3, Acquisitions, for information on additional intangible assets recognized during the fiscal year ended January 2, 2022 in connection with the Cipura Acquisition, Mandolin Acquisition, and The LINE and Saguaro Acquisition. Accumulated amortization as of December 31, 2023 totaled $55 million for Brand, $10 million for Membership list, $4 million for hotel management agreement, and $49 million for Website, internal-use software development costs, and other. Accumulated amortization as of January 1, 2023 totaled $50 million for Brand, $9 million for Membership list, $2 million for hotel management agreement, and $34 million for Website, internal-use software development costs, and other. Included within website, internal-use software development costs, and other are capitalized website development costs and internal-use software, net of accumulated amortization, which totaled $43 million and $35 million as of December 31, 2023 and January 1, 2023, respectively. Amortization expense related to the intangible assets totaled $22 million, $19 million, and $15 million in the fiscal years ended December 31, 2023, January 1, 2023, and January 2, 2022, respectively. The following table represents estimated aggregate amortization expense for each of the next five fiscal years:
(in thousands) |  |  |
2024 | $ |  | 21,931 |
2025 |  |  | 19,888 |
2026 |  |  | 15,806 |
2027 |  |  | 12,489 |
2028 |  |  | 8,205 |

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