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Note 4 - Goodwill and Intangible Assets | 9 Months Ended
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Jun. 27, 2023
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
Note 4. | Goodwill and Intangible Assets
The following table presents goodwill and intangible assets as of June 27, 2023 and September 27, 2022 (in thousands):
|  | June 27, 2023 |  |  | September 27, 2022 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-compete agreements |  | $ | 25 |  |  | $ | (11 | ) |  | $ | 14 |  |  | $ | 25 |  |  | $ | (5 | ) |  | $ | 20 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  | 3,900 |  |  |  | - |  |  |  | 3,900 |  |  |  | 3,900 |  |  |  | - |  |  |  | 3,900 |
Intangible assets, net |  | $ | 3,925 |  |  | $ | (11 | ) |  | $ | 3,914 |  |  | $ | 3,925 |  |  | $ | (5 | ) |  | $ | 3,920 |
Goodwill |  | $ | 5,713 |  |  | $ | - |  |  | $ | 5,713 |  |  | $ | 5,713 |  |  | $ | - |  |  | $ | 5,713 |
Goodwill represents the excess of cost over fair value of the assets of businesses the Company acquired. Goodwill is not amortized, but rather, the Company is required to test goodwill for impairment on an annual basis or whenever indications of impairment arise. The Company considers its operations to be comprised of two reporting units: (1) Good Times restaurants and (2) Bad Daddy’s restaurants. The Company had no goodwill impairment losses in the periods presented in the above table. The aggregate amortization expense related to these intangible assets subject to amortization was $6,000 for the three quarters ended June 27, 2023 and $3,000 for the three quarters ended June 28, 2022. As of both June 27, 2023 and June 28, 2022, the Company had $96,000 of goodwill attributable to the Good Times reporting unit and $5,617,000 of goodwill attributable to its Bad Daddy’s reporting unit.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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