(3) INTANGIBLE ASSETS

The Company has intangible assets that consist of liquor licenses and lease interest assets. The liquor licenses are indefinite-lived assets 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.

A reconciliation of the Company’s intangible assets as of December 31, 2017 and January 1, 2017, respectively, are presented in the table below:


(in thousands)	December 31, 2017		January 1, 2017
Lease interest assets, gross carrying amount	$	1,091	$	1,091
Lease interest assets, accumulated amortization		(286)		(249)
Lease interest assets, net carrying amount		805		842
Liquor licenses		1,035		1,760
Intangible assets, net	$	1,840	$	2,602

The following table provides the projected future amortization of lease interest assets for the next five years, as of December 31, 2017:


(in thousands)	December 31, 2017
Fiscal 2018	$	36
Fiscal 2019		36
Fiscal 2020		36
Fiscal 2021		36
Fiscal 2022		36
Thereafter		625
	$	805