Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v2.4.0.8
Goodwill and Intangible Assets
 12 Months Ended
Sep. 27, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
GOODWILL AND INTANGIBLE ASSETS
Components of intangible assets consist of the following (in thousands):
 
September 27, 2014
 
September 28, 2013
 
June 29, 2013
 
 
 
Cost
Accumulated Amortization
Net Value
 
Cost
Accumulated Amortization
Net Value
 
Cost
Accumulated Amortization
Net Value
 
Economic Life
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill
$
36,729

$
—

$
36,729

 
$
36,729

$
—

$
36,729

 
$
16,812

$
—

$
16,812

 
N/A
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intangibles:
 
 
 
 
 
 
 
 
 
 
 
 
 
Tradename/trademarks
$
17,530

$
(1,281
)
$
16,249

 
$
17,530

$
(672
)
$
16,858

 
$
1,530

$
(603
)
$
927

 
20 - 30 yrs
Customer relationships
7,220

(3,298
)
3,922

 
7,220

(2,937
)
4,283

 
7,220

(2,847
)
4,373

 
20 yrs
Technology
1,220

(582
)
638

 
1,220

(459
)
761

 
1,220

(428
)
792

 
10 yrs
License Agreements
2,100

(113
)
1,987

 
2,100

(10
)
2,090

 
—

—

—

 
15 - 30 yrs
Non-compete agreements
1,287

(583
)
704

 
1,287

(442
)
845

 
517

(419
)
98

 
4 – 8.5 yrs
Total intangibles
$
29,357

$
(5,857
)
$
23,500

 
$
29,357

$
(4,520
)
$
24,837

 
$
10,487

$
(4,297
)
$
6,190

 
 


The goodwill cost represents the acquired goodwill net of the cumulative impairment losses of $0.6 million. Amortization expense for intangible assets was $1.3 million for the year ended September 27, 2014, and $0.607 million for the years ended June 29, 2013, and June 30, 2012. Amortization expense for the transition period ended September 28, 2013, was $0.2 million. Amortization expense is estimated to be approximately $1.3 million each for fiscal years 2015, 2016, 2017, 2018 and 2019.