Company: JACK
Filing Date: 2025-02-25
Form Type: 10-Q
Source: 0000807882-25-000016
Chunk: 28

Company: JACK IN THE BOX INC
Filing Date: 2025-02-25
Form: 10-Q
Item: Item 1
Chunk 28
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 based on fair value estimates determined using significant unobservable inputs (Level 3).

5.GOODWILL AND INTANGIBLE ASSETS, NET

The changes in the carrying amount of goodwill during year-to-date period ended January 19, 2025 was as follows (in thousands):Jack in the BoxDel TacoTotal Goodwill$135,827 $188,006 $323,833 Accumulated impairment losses— (162,624)(162,624)Balance at September 29, 2024135,827 $25,382 $161,209 Reclassified from (to) assets held for sale187 (52)135 Goodwill136,014 187,954 323,968 Accumulated impairment losses— (162,624)(162,624)Balance at January 19, 2025$136,014 $25,330 $161,344 During the third quarter of 2024, the Company had identified triggering events that indicated the goodwill allocated to the Del Taco reporting unit might be impaired. As a result, the Company performed a quantitative test over the Del Taco reporting unit, noting that the fair value of the reporting unit was less than the carrying value, which resulted in an impairment of goodwill of $162.6 million at that time. The Company determined that there was no such triggering event for the Jack in the Box reporting unit.The net carrying amounts of intangible assets other than goodwill with definite lives are as follows (in thousands):January 19,2025September 29,2024Gross AmountAccumulated AmortizationNet AmountGross AmountAccumulated AmortizationNet AmountDefinite-lived intangible assets:Sublease assets$2,671 $(694)$1,977 $2,671 $(620)$2,051 Franchise contracts9,700 (1,554)8,146 9,700 (1,389)8,311 Reacquired franchise rights464 (317)147 464 (311)153 $12,835 $(2,565)$10,270 $12,835 $(2,320)$10,515 Indefinite-lived intangible assets:Del Taco trademark$283,500 $— $283,500 $283,500 $— $283,500 $283,500 $— $283,500 $283,500 $