Jamba Juice 2014 Annual Report Download - page 71
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The Company began actively marketing the stores in February 2015, after which it was determined that the criteria for classification of assets held for sale
were met. As a result, the 22 store locations will be reclassified to assets held for sale during the first quarter of 2015.
Assets Held for Sale
In November 2014, the Company announced plans to refranchise 114 Company Stores during the first half of 2015 in order to accelerate its transition to
an asset-light business model. As of December 30, 2014, the accompanying consolidated balance sheets include $11.2 million of assets held for sale
representing 100 stores that met the criteria as of that date, and is recorded in Assets held for sale. As of December 31, 2013, these assets had a carrying value
of $9.7 million and they have been reclassified in the prior year balance sheet in order to conform to the current year presentation.
A summary of the changes in Goodwill for fiscal 2013 and 2014 follows (in thousands):
Balance as of January 1, 2013 $ 1,233
Reclassification to assets held for sale (195)
Balance as of December 31, 2013 1,038
Disposals and reclassification to assets held for sale (56)
Balance as of December 30, 2014 $ 982
The carrying amount and accumulated amortization of trademarks and other intangible assets as of December 30, 2014 and December 31, 2013, were as
follows (in thousands):
Favorable leases $ 2,440 $ (1,860) $ 580
Trademarks 929 — 929
Franchise agreements and customer lists 943 (561) 382
Reacquired franchise rights 651 (182) 469
$ 4,963 $ (2,603) $ 2,360
Favorable leases $ 1,971 $ (1,965) $ 6
Trademarks 716 — 716
Franchise agreements and customer lists 1,059 (474) 585
Reacquired franchise rights 275 (265) 10
$ 4,021 $ (2,704) $ 1,317
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