Company: JACK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0000807882-25-000030
Chunk: 83

Company: JACK IN THE BOX INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 8
Chunk 83
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 over its indefinte-lived intangible trademark asset and as a result, during the second quarter of 2025, the Company also recorded impairment on the Del Taco trademark asset as noted below. The Company also performed a quantitative analysis over its definite-lived intangible assets to determine whether any impairment would need to be recognized, noting none. The Company also performed a quantitative analysis over its long-lived assets, noting impairment of $1.1 million, which was recorded in the second quarter. The changes in the carrying amount of the Del Taco indefinite-lived trademark during the year-to-date period ended April 13, 2025 was as follows (in thousands):Balance at September 29, 2024$283,500 Impairment of trademark(177,900)Balance at April 13, 2025$105,600 The net carrying amounts of definite-lived intangible assets are as follows (in thousands):April 13,2025September 29,2024Gross AmountAccumulated AmortizationNet AmountGross AmountAccumulated AmortizationNet AmountDefinite-lived intangible assets:Sublease assets$2,671 $(750)$1,921 $2,671 $(620)$2,051 Franchise contracts9,700 (1,679)8,021 9,700 (1,389)8,311 Reacquired franchise rights464 (320)144 464 (311)153 $12,835 $(2,749)$10,086 $12,835 $(2,320)$10,515 The following table summarizes, as of April 13, 2025, the estimated amortization expense for each of the next five fiscal years and thereafter (in thousands):Remainder of 2025$367 2026794 2027807 2028753 2029692 Thereafter6,673 $10,086 

6.LEASES

Nature of leases — The Company owns restaurant sites and also leases restaurant sites from third parties. Some of these owned or leased sites are leased and/or subleased to franchisees. Initial terms of our real estate leases are generally 20 years, exclusive of options to renew, which are generally exercisable at our sole discretion for 1 to 20 years. In some instances, our leases have provisions for contingent rentals based upon a percentage of defined revenues. Many of our restaurants also have rent escalation clauses and require the payment of property