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GOODWILL AND INTANGIBLE ASSETS, NET

4 Months Ended

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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- References

No definition available.

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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

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