Note 4 – Goodwill and Intangible Assets

Identifiable intangible assets that are subject to amortization consist of the following:


	December 27, 2018			June 28, 2018			December 28, 2017
Customer relationships	$	21,100		$	21,100		$	21,100
Brand names		16,990			16,990			16,990
Non-compete agreement		270			270			270

		38,360			38,360			38,360
Less accumulated amortization:
Customer relationships		(13,494	)		(12,182	)		(10,867	)
Brand names		(8,838	)		(8,492	)		(8,148	)
Non-compete agreement		(58	)		(32	)		(4	)

		(22,390	)		(20,706	)		(19,019	)

Net intangible assets	$	15,970		$	17,654		$	19,341

Customer relationships are being amortized on an accelerated basis. The brand names remaining to be amortized consist of the Squirrel Brand and Southern Style Nuts brand names.

Total amortization expense related to intangible assets, which is a component of Administrative expense, was $842 and $1,684 for the quarter and twenty-six weeks ended December 27, 2018 respectively. Amortization expense for the remainder of fiscal 2019 is expected to be approximately $1,344 and expected amortization expense the next five fiscal years is as follows:


Fiscal year ending
June 25, 2020	$	2,501
June 24, 2021		2,165
June 30, 2022		1,896
June 29, 2023		1,657
June 27, 2024		1,414

Our net goodwill of $9,650 relates entirely to the Squirrel Brand acquisition (the “Acquisition”) completed in the second quarter of fiscal 2018. There was no change in the carrying amount of goodwill during the twenty-six weeks ended December 27, 2018.