Other Assets and intangible assets, net
The major classes of other assets and intangibles assets along with related accumulated amortization at December 29, 2019 and December 30, 2018 are summarized as follows:
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Average Life at December 29, 2019 |
2019 |
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2018 |
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Gross Amount |
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Accumulated Amortization |
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Net Amount |
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Gross Amount |
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Accumulated Amortization |
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Net Amount |
Finite-lived assets: |
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Loan origination costs |
0.8 |
$ |
294 |
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$ |
(267 |
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$ |
27 |
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$ |
294 |
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$ |
(234 |
) |
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$ |
60 |
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Lease acquisition costs (1)
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— |
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— |
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— |
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2,828 |
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(705 |
) |
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2,123 |
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Total finite-lived assets |
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294 |
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(267 |
) |
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27 |
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3,122 |
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(939 |
) |
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2,183 |
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Indefinite-lived assets: |
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Liquor license |
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214 |
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— |
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214 |
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152 |
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— |
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152 |
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Total indefinite-lived assets |
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214 |
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— |
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214 |
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152 |
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— |
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152 |
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Other noncurrent assets (2)
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426 |
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— |
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426 |
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90 |
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— |
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90 |
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Total other assets and intangible assets |
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$ |
934 |
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$ |
(267 |
) |
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$ |
667 |
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$ |
3,364 |
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$ |
(939 |
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$ |
2,425 |
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(1) |
As a result of the adoption of Leases (Topic 842), lease acquisition costs, net of accumulated amortization, have been included with the operating lease assets and will be amortized against the rent expense over the remaining lease term. Any future incremental lease acquisition costs will be capitalized in accordance with Topic 842. See Note 2 for the impact of the adoption on the Consolidated Balance Sheet. |
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(2) |
Other noncurrent assets primarily consists of deferred compensation plan assets recorded at fair value. See Note 2 for additional information. |
Amortization expense was nominal for the year ended December 29, 2019, $0.1 million for the year ended December 30, 2018 and $0.2 million for the year ended December 31, 2017.
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