(3) INTANGIBLE ASSETS

The Company has intangible assets that consist of liquor licenses and lease interest assets. The liquor licenses are indefinite lived assets (see Note 1) and are not subject to amortization. The lease interest assets are amortized, to occupancy costs, on a straight-line basis over the remaining term of each respective lease. Amortization for each of the next five years is expected to be approximately $47,500.

A reconciliation of beginning and ending amounts of intangible assets for the years ended December 28, 2014 and January 3, 2016, respectively, is presented in a table below:


		Remaining estimated useful life (years)		Original Cost		Accumulated Amortization		Net Book Value		Less Current Portion⁽¹⁾		Non- Current Portion
(in thousands)
Balance at December 28, 2014
	Lease interest assets	25.1	$	1,417	$	(230)	$	1,187	$	(48)	$	1,139
	Liquor licenses			1,810		---		1,810		---		1,810

	Total		$	3,227	$	(230)	$	2,997	$	(48)	$	2,949


		Remaining estimated useful life (years)		Original Cost		Accumulated Amortization		Net Book Value		Less Current Portion⁽¹⁾		Non- Current Portion
(in thousands)
Balance at January 3, 2016
	Lease interest assets	24.1	$	1,417	$	(277)	$	1,140	$	(48)	$	1,092
	Liquor licenses			1,810		---		1,810		---		1,810

	Total		$	3,227	$	(277)	$	2,950	$	(48)	$	2,902


⁽¹⁾The current portion of lease interest assets are recorded in prepaid expenses and other current assets.