Jack In The Box 2009 Annual Report Download - page 52

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Table of Contents


Revenue and operating income from discontinued operations for fiscal 2009 (through the date of sale), 2008 and 2007 were as
follows (in thousands):
  
Revenue $272,202 $461,888 $362,547
Operating (losses) income (20,439) 1,749 1,500
 
We account for the acquisition of franchised restaurants using the purchase method of accounting pursuant to the FASB
authoritative guidance on business combinations. During the quarter ended January 18, 2009, we acquired 22 Qdoba restaurants from
franchisees for net consideration of $6.8 million. The total purchase was allocated to property and equipment, goodwill and other income.
 
The changes in the carrying amount of goodwill during 2009 and 2008 by operating segment were as follows (in thousands):
  
Balance at September 30, 2007 $ 58,824 $28,797 $ 87,621
Sale of company-operated restaurants to franchisees (1,832) — (1,832)
Balance at September 28, 2008 56,992 28,797 85,789
Acquisition of franchised restaurants — 2,536 2,536
Sale of company-operated restaurants to franchisees (2,482) — (2,482)
Balance at September 27, 2009 $ 54,510 $ 31,333 $ 85,843
Intangible assets, net consist of the following as of September 27, 2009 and September 28, 2008 (in thousands):
 
Amortized intangible assets:
Gross carrying amount $17,679 $19,249
Less accumulated amortization (8,045) (8,800)
Net carrying amount 9,634 10,449
Unamortized intangible assets:
Trademark 8,800 8,800
Net carrying amount $ 18,434 $19,249
Amortized intangible assets include lease acquisition costs and acquired franchise contracts. The weighted-average life of the
amortized intangible assets is approximately 26 years. Total amortization expense related to intangible assets was $0.8 million,
$0.8 million, and $0.9 million in fiscal years 2009, 2008 and 2007, respectively.
F-13