Jack In The Box 2008 Annual Report Download - page 60

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During fiscal 2007, aggregate goodwill of $4.5 million was recorded in connection with the acquisition of nine
Qdoba restaurants previously operated by franchisees.
Intangible assets, net consist of the following as of September 28, 2008 and September 30, 2007
(in thousands):
2008 2007
Amortized intangible assets:
Gross carrying amount ........................................ $19,249 $ 21,866
Less accumulated amortization .................................. (8,800) (10,609)
Net carrying amount ......................................... 10,449 11,257
Unamortized intangible assets:
Trademark ................................................. 8,800 8,800
Net carrying amount ......................................... $19,249 $ 20,057
Amortized intangible assets include lease acquisition costs and acquired franchise contracts. The weighted-
average life of the amortized intangible assets is approximately 25 years. Total amortization expense related to
intangible assets was $0.8 million, $0.9 million, and $1.0 million in fiscal years 2008, 2007, and 2006, respectively.
The following table summarizes, as of September 28, 2008, the estimated amortization expense for each of the
next five fiscal years (in thousands):
Fiscal Year
2009 ................................................................. $ 757
2010 ................................................................. 742
2011 ................................................................. 741
2012 ................................................................. 722
2013 ................................................................. 689
Total ................................................................. $3,651
4. INDEBTEDNESS
The detail of long-term debt at each year-end follows (in thousands):
2008 2007
Revolver, variable interest rate based on an applicable margin plus LIBOR,
4.88% at September 28, 2008.................................. $ 91,000 $ —
Term loan, variable interest rate based on an applicable margin plus LIBOR,
4.21% at September 28, 2008.................................. 415,000 415,000
Capital lease obligations, 8.62% weighted average interest rate........... 12,526 18,053
Other notes, principally unsecured ................................ 55 250
518,581 433,303
Less current portion .......................................... (2,331) (5,787)
$516,250 $427,516
Credit facility — Our credit facility is comprised of (i) a $150.0 million revolving credit facility maturing on
December 15, 2011 and (ii) a term loan maturing on December 15, 2012, both bearing interest at London Interbank
Offered Rate (“LIBOR”) plus 1.375%. At inception, we borrowed $475.0 million under the term loan facility and
F-14
JACK IN THE BOX INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)