Goodwill and Intangible Assets

12 Months Ended

Dec. 27, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents goodwill as of December 27, 2020 and December 29, 2019 (in thousands):


	2020		2019
Balance, beginning	$	96,397	$	95,838
Foreign currency translation adjustment	(983)		559
Goodwill impairment(1)	(95,414)		—
Balance, end	$	—	$	96,397

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(1) See Note 2, COVID-19 Pandemic, for further discussion of goodwill impairment recognized during 2020.

The following table presents intangible assets as of December 27, 2020 and December 29, 2019 (in thousands):


	December 27, 2020						December 29, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets subject to amortization:
Franchise rights	$	49,972	$	(36,815)	$	13,157	$	53,336	$	(35,896)	$	17,440
Leasehold interests	13,001		(9,254)		3,747		13,001		(8,794)		4,207
Liquor licenses and other	9,714		(9,364)		350		10,737		(9,869)		868
	$	72,687	$	(55,433)	$	17,254	$	77,074	$	(54,559)	$	22,515
Indefinite-lived intangible assets:
Liquor licenses and other	$	7,460	$	—	$	7,460	$	7,460	$	—	$	7,460
Intangible assets, net	$	80,147	$	(55,433)	$	24,714	$	84,534	$	(54,559)	$	29,975

Immaterial impairment charges were recorded related to finite-lived intangibles resulting from the continuing and projected future results at Company-owned restaurants in 2020, 2019, and 2018, and no impairment charges were recorded related to indefinite-lived intangibles in 2020, 2019, and 2018.

The aggregate amortization expense related to intangible assets subject to amortization for 2020, 2019, and 2018 was $4.4 million, $4.4 million, and $4.3 million.

The estimated aggregate future amortization expense as of December 27, 2020 is as follows (in thousands):


2021	$	2,903
2022	2,490
2023	2,349
2024	2,098
2025	1,758
Thereafter	5,656
	$	17,254