Quarterly report [Sections 13 or 15(d)]

Intangibles, Net

v3.25.2
Intangibles, Net
6 Months Ended
Jun. 29, 2025
Intangibles, Net  
Intangibles, Net

Note 4 – Intangibles, Net

Intangibles, net consists of the following (in thousands):

June 29,

December 31,

    

2025

    

2024

Indefinite-lived intangible assets

Tradenames

$

134,400

$

134,400

Finite-lived intangible assets

Franchise agreements

800

800

Other finite-lived intangible assets

172

152

Total finite-lived intangible assets

972

952

Less: accumulated amortization

 

(2,273)

 

(2,241)

Total intangibles, net

$

133,099

$

133,111

Intangible assets consist of the indefinite-lived “Benihana”, “Kona Grill” and “RA Sushi” trade names and other finite-lived intangible assets that are amortized using the straight-line method over their estimated useful life of 10 to 15 years. The amortization expense was less than $0.1 million and nominal of the three and six periods ended June 29, 2025, respectively, and the three and six months ended June 30, 2024, respectively. The Company’s estimated aggregate amortization expense for each of the five succeeding fiscal years is $0.1 million annually.