Jack In The Box 2014 Annual Report Download - page 59
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Restaurants acquired from franchisees
4
14
46
Property and equipment
$ 1,398
$ 3,030
$ 12,379
Reacquired franchise rights
96
148
604
Goodwill
256
9,169
36,084
Liabilities assumed
—
(283)
(122)
Total consideration
$ 1,750
$ 12,064
$ 48,945
The changes in the carrying amount of goodwill during 2014 and 2013 by reportable segment were as follows (in thousands):
Balance at September 30, 2012
$ 47,847
$ 92,775
$ 140,622
Acquisition of franchised restaurants
1,173
7,996
9,169
2013 Qdoba Closures
—
(174)
(174)
Sale of company-operated restaurants to franchisees
(629)
—
(629)
Balance at September 29, 2013
48,391
100,597
148,988
Acquisition of franchised restaurants
256
—
256
Sale of company-operated restaurants to franchisees
(170)
—
(170)
Balance at September 28, 2014
$ 48,477
$ 100,597
$ 149,074
Intangible assets, net consist of the following as of the end of each fiscal year (in thousands):
Amortized intangible assets:
Gross carrying amount
$ 17,272
$ 17,203
Less accumulated amortization
(10,468)
(9,613)
Net carrying amount
6,804
7,590
Non-amortized intangible assets:
Trademark
8,800
8,800
Net carrying amount
$ 15,604
$ 16,390
Amortized intangible assets include acquired franchise contracts recorded in connection with our acquisition of Qdoba in 2003, lease acquisition costs and
reacquired Qdoba franchise rights. The weighted-average life of these amortized intangible assets is approximately 27 years. Total amortization expense
related to intangible assets was $0.9 million, $1.0 million and $0.9 million in fiscal 2014, 2013 and 2012, respectively.
The following table summarizes, as of September 28, 2014, the estimated amortization expense for each of the next five fiscal years (in thousands):
2015 $ 816
2016 $ 754
2017 $ 706
2018 $ 661
2019 $ 615
F-15