Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v3.5.0.2
Goodwill and Intangible Assets
 12 Months Ended
Oct. 01, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
GOODWILL AND INTANGIBLE ASSETS
Goodwill and components of intangible assets consist of the following (in thousands, except economic life data):
 
October 1, 2016
 
October 3, 2015
 
 
 
Cost
Accumulated Amortization
Net Value
 
Cost
Accumulated Amortization
Net Value
 
Economic Life
 
 
 
 
 
 
 
 
 
 
Goodwill
$
36,729

$
—

$
36,729

 
$
36,729

$
—

$
36,729

 
N/A
 
 
 
 
 
 
 
 
 
 
Intangibles:
 
 
 
 
 
 
 
 
 
Tradename/trademarks
$
17,620

$
(2,514
)
$
15,106

 
$
17,530

$
(1,896
)
$
15,634

 
20 - 30 yrs
Customer relationships
7,220

(4,016
)
3,204

 
7,220

(3,664
)
3,556

 
20 yrs
Technology
1,220

(826
)
394

 
1,220

(703
)
517

 
10 yrs
License Agreements
2,100

(320
)
1,780

 
2,100

(216
)
1,884

 
15 - 30 yrs
Non-compete agreements
1,287

(849
)
438

 
1,287

(716
)
571

 
4 – 8.5 yrs
Total intangibles
$
29,447

$
(8,525
)
$
20,922

 
$
29,357

$
(7,195
)
$
22,162

 
 


Goodwill represents the acquired goodwill net of the cumulative impairment losses of $0.6 million. In August 2016, we acquired Coast Apparel for $313 thousand, which resulted in additional intangible assets of $90 thousand. Amortization expense for intangible assets was $1.3 million for the years ended October 1, 2016, October 3, 2015, and September 27, 2014. Amortization expense is estimated to be approximately $1.3 million for fiscal years 2017, 2018 and 2019, approximately $1.2 million for fiscal year 2020, and approximately $1.1 million for fiscal year 2021.