Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v3.22.0.1
INTANGIBLE ASSETS
 12 Months Ended
Jan. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
The following tables present components of "intangible assets, net" recorded in the Company's balance sheets:
(In thousands) Weighted Average Amortization Period Amortization Method Cost Accumulated Amortization Net Carrying Amount
December 2021
Finite-lived intangible assets:
Trademarks 16 years Straight-line $ 58,132  $ 48,071  $ 10,061 
Indefinite-lived intangible assets:
Trademarks and trade names 4,577 
Intangible assets, net $ 14,638 
(In thousands) Weighted Average Amortization Period Amortization Method Cost Accumulated Amortization Net Carrying Amount
December 2020
Finite-lived intangible assets:
Trademarks 16 years Straight-line $ 58,132  $ 47,066  $ 11,066 
Indefinite-lived intangible assets:
Trademarks and trade names 4,925 
Intangible assets, net $ 15,991 
During the third quarter of 2019, the Company recorded a $32.6 million non-cash impairment charge, which was reflected within "non-cash impairment of intangible asset" in the Company's statement of operations and is included in the accumulated amortization balance. The Company did not incur any impairment charges related to intangible assets during 2021 or 2020. Refer to Note 13 to the Company's financial statements for additional information on the related fair value measurements.
Amortization expense (excluding impairment charges) was $1.0 million, $1.7 million and $3.0 million for 2021, 2020 and 2019, respectively.
Estimated amortization expense for the next five years beginning in 2022 is $1.0 million each year.