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GOODWILL AND INTANGIBLE ASSETS, NET | 4 Months Ended
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Jan. 19, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS, NET | GOODWILL AND INTANGIBLE ASSETS, NET The changes in the carrying amount of goodwill during year-to-date period ended January 19, 2025 was as follows (in thousands):
| Jack in the Box |  | Del Taco |  | Total
Goodwill | $ | 135,827 |  |  | $ | 188,006 |  |  | $ | 323,833 |
Accumulated impairment losses | — |  |  | (162,624) |  |  | (162,624) |
Balance at September 29, 2024 | 135,827 |  |  | $ | 25,382 |  |  | $ | 161,209 |
Reclassified from (to) assets held for sale | 187 |  |  | (52) |  |  | 135 |
Goodwill | 136,014 |  |  | 187,954 |  |  | 323,968 |
Accumulated impairment losses | — |  |  | (162,624) |  |  | (162,624) |
Balance at January 19, 2025 | $ | 136,014 |  |  | $ | 25,330 |  |  | $ | 161,344 |
During the third quarter of 2024, the Company had identified triggering events that indicated the goodwill allocated to the Del Taco reporting unit might be impaired. As a result, the Company performed a quantitative test over the Del Taco reporting unit, noting that the fair value of the reporting unit was less than the carrying value, which resulted in an impairment of goodwill of $162.6 million at that time. The Company determined that there was no such triggering event for the Jack in the Box reporting unit. The net carrying amounts of intangible assets other than goodwill with definite lives are as follows (in thousands):
| January 19, 2025 |  | September 29, 2024
| Gross Amount |  | Accumulated Amortization |  | Net Amount |  | Gross Amount |  | Accumulated Amortization |  | Net Amount
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Sublease assets | $ | 2,671 |  |  | $ | (694) |  |  | $ | 1,977 |  |  | $ | 2,671 |  |  | $ | (620) |  |  | $ | 2,051 |
Franchise contracts | 9,700 |  |  | (1,554) |  |  | 8,146 |  |  | 9,700 |  |  | (1,389) |  |  | 8,311 |
Reacquired franchise rights | 464 |  |  | (317) |  |  | 147 |  |  | 464 |  |  | (311) |  |  | 153 |
| $ | 12,835 |  |  | $ | (2,565) |  |  | $ | 10,270 |  |  | $ | 12,835 |  |  | $ | (2,320) |  |  | $ | 10,515 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Del Taco trademark | $ | 283,500 |  |  | $ | — |  |  | $ | 283,500 |  |  | $ | 283,500 |  |  | $ | — |  |  | $ | 283,500 |
| $ | 283,500 |  |  | $ | — |  |  | $ | 283,500 |  |  | $ | 283,500 |  |  | $ | — |  |  | $ | 283,500 |
The following table summarizes, as of January 19, 2025, the estimated amortization expense for each of the next five fiscal years and thereafter (in thousands):
Remainder of 2025 | $ | 717 |
2026 | 794 |
2027 | 807 |
2028 | 753 |
2029 | 692 |
Thereafter | 6,507 |
| $ | 10,270 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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