Quarterly report pursuant to Section 13 or 15(d)

Note P - Goodwill and Intangible Assets

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Note P - Goodwill and Intangible Assets
3 Months Ended
Dec. 28, 2019
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]
Note P—Goodwill and Intangible Assets
 
Components of intangible assets consist of the following (in thousands):
 
   
December 28, 2019
   
September 28, 2019
 
 
 
   
Cost
   
Accumulated Amortization
   
Net Value
   
Cost
   
Accumulated Amortization
   
Net Value
 
Economic Life
 
                                                     
Goodwill
  $
37,897
    $
    $
37,897
    $
37,897
    $
    $
37,897
 
N/A
 
                                                     
Intangibles:
                                                   
Tradename/trademarks
  $
16,090
    $
(3,414
)   $
12,676
    $
16,090
    $
(3,278
)   $
12,812
 
20 – 30 yrs
 
Customer relationships
   
7,400
     
(1,178
)    
6,222
     
7,400
     
(993
)    
6,407
 
8 – 10 yrs
 
Technology
   
1,720
     
(1,335
)    
385
     
1,720
     
(1,289
)    
431
 
10 yrs
 
License agreements
   
2,100
     
(655
)    
1,445
     
2,100
     
(630
)    
1,470
 
15 – 30 yrs
 
Non-compete agreements
   
1,657
     
(1,230
)    
427
     
1,657
     
(1,170
)    
487
 
4 – 8.5 yrs
 
Total intangibles
  $
28,967
    $
(7,812
)   $
21,155
    $
28,967
    $
(7,360
)   $
21,607
 
 
 
 
Goodwill represents the acquired goodwill net of the
$0.6
million cumulative impairment losses recorded in fiscal year
2011.
The goodwill recorded on our financial statements is included in both of our segments, with
$18.0
 million and
$19.9
million included in the Delta Group and Salt Life Group, respectively.
 
Amortization expense for intangible assets was
$0.5
million for the
three
-month periods ended
December 28, 2019
, and
December 29, 2018
. Amortization expense is estimated to be approximately
$1.7
million for fiscal year
2020,
$1.6
million for each of fiscal years
2021
and 
2022,
$1.5
million for fiscal year
2023,
and approximately
$1.4
million for fiscal year 
2024.