INTANGIBLE ASSETS, GOODWILL AND TRADEMARKS

12 Months Ended

Oct. 02, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, GOODWILL AND TRADEMARKS

Intangible assets consist of the following:


	October 2, 2021		October 3, 2020
	(in thousands)
Purchased leasehold rights (a)	$	1,995	$	1,995
Noncompete agreements and other	633		253
	2,628		2,248
Less accumulated amortization	2,252		2,199
Intangible Assets - Net	$	376	$	49

(a)Purchased leasehold rights arose from acquiring leases and subleases of various restaurants.

Amortization expense related to intangible assets for the years ended October 2, 2021 and October 3, 2020 was $53,000 and $146,000, respectively, which includes the write-off of the unamortized balance of leasehold rights related to a catering space in New York in the amount of $137,000 for the year ended October 3, 2020. Amortization expense for each of the next five years is expected to be $85,000.

Goodwill is the excess of cost over fair market value of tangible and intangible net assets acquired. Goodwill is not presently amortized but tested for impairment annually or when the facts or circumstances indicate a possible impairment of goodwill as a result of a continual decline in performance or as a result of fundamental changes in a market. Trademarks, which have indefinite lives, are not currently amortized and are tested for impairment annually or when facts or circumstances indicate a possible impairment as a result of a continual decline in performance or as a result of fundamental changes in a market.

The changes in the carrying amount of goodwill and trademarks for the years ended October 2, 2021 and October 3, 2020 are as follows:


	Goodwill		Trademarks
	(in thousands)
Balance as of September 28, 2019	$	15,570	$	3,720
Acquired during the year	—		—
Impairment losses	—		—
Balance as of October 3, 2020	15,570		3,720
Acquired during the year	1,870		500
Impairment losses	—		—
Balance as of October 2, 2021	$	17,440	$	4,220