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Goodwill and Intangible Assets, Net | 12 Months Ended
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Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets, Net | Goodwill and Intangible Assets, Net Goodwill - The following table is a rollforward of goodwill and the related accumulated impairment losses for the periods indicated:
(dollars in thousands) | U.S. |  | INTERNATIONAL FRANCHISE (1) |  | CONSOLIDATED
Balance as of December 31, 2023 |  |  |  |  |
Goodwill, gross | $ | 838,827 |  |  | $ | 162,549 |  |  | $ | 1,001,376 |
Accumulated impairment losses | (668,170) |  |  | (119,883) |  |  | (788,053) |
Goodwill, net | 170,657 |  |  | 42,666 |  |  | 213,323 |
Changes in goodwill | — |  |  | — |  |  | — |
Balance as of December 29, 2024 |  |  |  |  |
Goodwill, gross | 838,827 |  |  | 162,549 |  |  | 1,001,376 |
Accumulated impairment losses | (668,170) |  |  | (119,883) |  |  | (788,053) |
Goodwill, net | $ | 170,657 |  |  | $ | 42,666 |  |  | $ | 213,323 |
________________ (1)Excludes $51.9 million and $63.0 million of Goodwill, net as of December 29, 2024 and December 31, 2023, respectively, classified as held for sale. The Company performs its annual assessment for impairment of goodwill and other indefinite-lived intangible assets during its second fiscal quarter. The Company’s 2024 and 2022 assessments were qualitative and its 2023 assessment was quantitative. In connection with these assessments, the Company did not record any goodwill asset impairment charges during the periods presented. Intangible Assets, net - Intangible assets, net, consisted of the following as of the periods indicated:
| WEIGHTED AVERAGE REMAINING AMORTIZATION PERIOD (in years) |  | DECEMBER 29, 2024 |  | DECEMBER 31, 2023
(dollars in thousands) |  | GROSS CARRYING VALUE |  | ACCUMULATED AMORTIZATION |  | NET CARRYING VALUE |  | GROSS CARRYING VALUE |  | ACCUMULATED AMORTIZATION |  | NET CARRYING VALUE
Trade names | Indefinite |  | $ | 414,716 |  |  |  |  | $ | 414,716 |  |  | $ | 414,716 |  |  |  |  | $ | 414,716 |
Trademarks | 4 |  | 81,952 |  |  | $ | (67,577) |  |  | 14,375 |  |  | 81,952 |  |  | $ | (63,752) |  |  | 18,200 |
Total intangible assets |  | $ | 496,668 |  |  | $ | (67,577) |  |  | $ | 429,091 |  |  | $ | 496,668 |  |  | $ | (63,752) |  |  | $ | 432,916 |
The Company did not record any intangible asset impairment charges during the periods presented. The following table presents goodwill, trade names and trademarks balances by reporting unit as of the periods indicated:
| DECEMBER 29, 2024 |  | DECEMBER 31, 2023
(dollars in thousands) | GOODWILL |  | TRADE NAMES |  | TRADEMARKS |  | GOODWILL |  | TRADE NAMES |  | TRADEMARKS
Outback Steakhouse | $ | 123,188 |  |  | $ | 287,000 |  |  | $ | — |  |  | $ | 123,188 |  |  | $ | 287,000 |  |  | $ | — |
Carrabba’s Italian Grill | 18,826 |  |  | 69,000 |  |  | — |  |  | 18,826 |  |  | 69,000 |  |  | — |
Bonefish Grill | 28,188 |  |  | — |  |  | 6,957 |  |  | 28,188 |  |  | — |  |  | 9,788 |
Fleming’s Prime Steakhouse & Wine Bar | 455 |  |  | — |  |  | 7,418 |  |  | 455 |  |  | — |  |  | 8,412 |
U.S. total | 170,657 |  |  | 356,000 |  |  | 14,375 |  |  | 170,657 |  |  | 356,000 |  |  | 18,200 |
International Franchise | 42,666 |  |  | 58,716 |  |  | — |  |  | 42,666 |  |  | 58,716 |  |  | — |
Total | $ | 213,323 |  |  | $ | 414,716 |  |  | $ | 14,375 |  |  | $ | 213,323 |  |  | $ | 414,716 |  |  | $ | 18,200 |
Definite-lived intangible assets are amortized on a straight-line basis. The following table presents the aggregate expense related to the amortization of the Company’s trademarks for the periods indicated:
| FISCAL YEAR
(dollars in thousands) | 2024 |  | 2023 |  | 2022
Amortization expense | $ | 3,825 |  |  | $ | 4,076 |  |  | $ | 3,939 |
The following table presents expected annual amortization of intangible assets as of December 29, 2024:
| FISCAL YEAR |  |  |  |
(dollars in thousands) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  |  |  |
Amortization of intangible assets | $ | 3,825 |  |  | $ | 3,825 |  |  | $ | 2,292 |  |  | $ | 995 |  |  | $ | 995 |  |  |  |  |

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