Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill (Tables)

v3.3.1.900
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Franchise Assets and Goodwill

The changes in the carrying amount of franchise assets and goodwill for the years ended December 31, 2015 and 2014 were as follows:  

 

 

Franchise

Assets

 

 

Net

Goodwill

 

 

 

 

(In thousands)

 

 

Balance, December 31, 2013

 

$

79,535

 

 

$

476,315

 

(1)

Additions through current year acquisitions

 

 

7,500

 

 

 

10,176

 

 

Prior year acquisition allocations

 

 

-

 

 

 

(3

)

 

Reductions from dispositions

 

 

(7,735

)

 

 

(10,559

)

 

Reductions from impairment

 

 

(2,200

)

 

 

-

 

 

Balance at December 31, 2014

 

$

77,100

 

 

$

475,929

 

(1)

Prior year acquisition allocations

 

 

1,100

 

 

 

(870

)

 

Reductions from dispositions

 

 

-

 

 

 

(1,121

)

 

Reductions from impairment

 

 

(3,300

)

 

 

(2,445

)

 

Balance at December 31, 2015

 

$

74,900

 

 

$

471,493

 

(1)

(1) Net of accumulated impairment losses of $796,725.
Definite Life Intangible Assets

Definite life intangible assets consist of the following:

 

 

 

December 31, 2015

 

 

December 31, 2014

 

 

 

(In thousands)

 

Favorable lease agreements

 

$

17,318

 

 

$

17,318

 

Less accumulated amortization

 

 

(11,342

)

 

 

(10,698

)

Definite life intangibles, net

 

$

5,976

 

 

$

6,620

 

 
Future Amortization Expense

Future amortization expense is as follows:

 

Year Ending December 31,

 

(In thousands)

 

2016

 

$

644

 

2017

 

 

644

 

2018

 

 

644

 

2019

 

 

644

 

2020

 

 

614

 

Thereafter

 

 

2,786

 

Total

 

$

5,976