v3.21.1

INTANGIBLE ASSETS | 12 Months Ended
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Jan. 03, 2021
Intangible Assets |
Intangible Assets | (5) INTANGIBLE ASSETS The Company has intangible assets that consist of liquor licenses, database, trademarks and patents, and reacquired franchise rights, net. The liquor licenses and trademarks/logos are indefinite-lived assets and are not subject to amortization. Reacquired franchise rights are amortized to depreciation and amortization expense on a straight-line basis over the remaining life of the reacquired franchise agreement. The database is amortized over three years. The increase in intangible assets was due to the Granite City Acquisition described in Note 2 Restaurant Acquisition. Intangible assets consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) | ​ | ​ | ​ | January 3, 2021 |  | December 29, 2019
Reacquired franchise rights, net | ​ | ​ | ​ | ​ | 1,246 | ​ | ​ | 1,788
Goodwill | ​ | ​ | ​ | ​ | 601 | ​ | ​ | 640
Liquor licenses | ​ | ​ | ​ | ​ | 868 | ​ | ​ | 425
Trademark/Logos/Patents | ​ | ​ | ​ | ​ | 7,688 | ​ | ​ | -
Database | ​ | ​ | ​ | ​ | 165 | ​ | ​ | -
Intangible assets, net | ​ | ​ | ​ | $ | 10,568 | ​ | $ | 2,853
​ The following table provides the projected future amortization of reacquired franchise rights, net for the next five years, as of January 3, 2021: ​
​ | ​ | ​
(in thousands) | Reacquired Franchise Rights, net
Fiscal 2021 | $ | 390
Fiscal 2022 | ​ | 390
Fiscal 2023 | ​ | 225
Fiscal 2024 | ​ | 104
Fiscal 2025 | ​ | 102
Thereafter | ​ | 35
​ | $ | 1,246
​ The Company recognized amortization expense related to reacquired franchise rights of approximately $406,000 and $306,000 during the years ended January 3, 2021 and December 29, 2019, respectively, and expect to recognize the remaining balance over a period of 7 years.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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