Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.7.0.1
Goodwill and Intangible Assets
 9 Months Ended
Jul. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Goodwill and Intangible Assets
Components of intangible assets consist of the following (in thousands):
 
July 1, 2017
 
October 1, 2016
 
 
 
Cost
Accumulated Amortization
Net Value
 
Cost
Accumulated Amortization
Net Value
 
Economic Life
 
 
 
 
 
 
 
 
 
 
Goodwill
$
19,917

$
—

$
19,917

 
$
36,729

$
—

$
36,729

 
N/A
 
 
 
 
 
 
 
 
 
 
Intangibles:
 
 
 
 
 
 
 
 
 
Tradename/trademarks
$
16,090

$
(2,059
)
$
14,031

 
$
17,620

$
(2,514
)
$
15,106

 
20 – 30 yrs
Customer relationships
—

—

—

 
7,220

(4,016
)
3,204

 
20 yrs
Technology
1,220

(916
)
304

 
1,220

(826
)
394

 
10 yrs
License agreements
2,100

(398
)
1,702

 
2,100

(320
)
1,780

 
15 – 30 yrs
Non-compete agreements
1,037

(698
)
339

 
1,287

(849
)
438

 
4 – 8.5 yrs
Total intangibles
$
20,447

$
(4,071
)
$
16,376

 
$
29,447

$
(8,525
)
$
20,922

 
 


Goodwill represents the acquired goodwill net of the cumulative impairment losses recorded in fiscal year 2011 of $0.6 million. The goodwill recorded on our financial statements is all included in the branded segment.
The sale of Junkfood, completed on March 31, 2017, included intangible assets, net of accumulated amortization, consisting of trademarks of $0.6 million and customer relationships of $3.0 million. Goodwill associated with Junkfood was reduced by $16.8 million as a result of the sale.
Amortization expense for intangible assets was $0.2 million for the three-month period ended July 1, 2017, and $0.3 million for the three-month period ended July 2, 2016. Amortization expense for the nine-month periods ended July 1, 2017, and July 2, 2016, was $0.9 million and $1.0 million, respectively. Amortization expense is estimated to be approximately $1.1 million for fiscal year 2017, $0.9 million for each of fiscal years 2018 and 2019, $0.7 million for fiscal year 2020, and $0.6 million for fiscal year 2021.