Goodwill and Other Intangible Assets

The Company recorded goodwill in connection with the Ayrshire and Sabre acquisitions resulting primarily from the synergies that resulted from the Company’s acquisitions and the assembled workforce. The goodwill is not amortized for financial accounting purposes.

During the six months ended December 29, 2018 and December 30, 2017, no impairment was recognized. Goodwill was recorded at $10.0 million as of December 29, 2018 and June 30, 2018.

The components of acquired intangible assets are as follows (in thousands):



	December 29, 2018
	Amortization Period in Years	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangible assets:
Customer Relationships	10	4,803		(2,311		)	2,492
Favorable Lease Agreements	4 - 7	2,941		(2,133		)	808
Total		$	7,744	$	(4,444	)	$	3,300



	June 30, 2018
	Amortization Period in Years	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangible assets:
Non-Compete Agreements	3 - 5	$	568	$	(568	)	$	—
Customer Relationships	10	4,803		(2,071		)	2,732
Favorable Lease Agreements	4 - 7	2,941		(1,947		)	994
Total		$	8,312	$	(4,586	)	$	3,726

Amortization expense was approximately $196,000 and $265,000 for the three months ended December 29, 2018 and December 30, 2017, respectively. Amortization expense was approximately $426,000 and $542,000 for the six months ended December 29, 2018 and December 30, 2017, respectively.

Aggregate amortization expense relative to existing intangible assets by fiscal year is currently estimated to be as follows (in thousands):



Fiscal Years Ending	Amount
2019 ⁽¹⁾	392
2020	783
2021	784
2022	531
2023	480
Thereafter	330
Total amortization expense	$	3,300

(1) Represents estimated amortization for the remaining six-month period ending June 29, 2019.