Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v2.4.0.8
Intangible Assets, Net
 9 Months Ended
Sep. 27, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net
Intangible Assets, Net
Intangible assets consisted of the following at September 27, 2014 and December 28, 2013 (in thousands):
 
 
 
 
September 27, 2014
 
December 28, 2013
 
Useful Life
 
Gross
Carrying
Amount
 
Accumulated
Amort. and
Impairment
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amort. and
Impairment
 
Net
Carrying
Amount
Intangible assets subject to amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
Product design intellectual property (1)
4 years
 
$
2,750

 
$
(2,037
)
 
$
713

 
$
2,750

 
$
(1,842
)
 
$
908

Patent license agreements
3 - 5 years
 
537

 
(64
)
 
$
473

 
—

 
—

 
$
—

Domain and trade names
10 years
 
1,199

 
(563
)
 
$
636

 
1,199

 
(506
)
 
$
693

Total
 
 
$
4,486

 
$
(2,664
)
 
$
1,822

 
$
3,949

 
$
(2,348
)
 
$
1,601

 
(1)
During the second quarter of 2013, based on the impairment analysis, the Company changed its estimated useful life for product design and intellectual property from 9 years to 4 years.
Intangible assets are amortized on a straight-line basis. Amortization expense relating to intangible assets for the thirteen weeks ended September 27, 2014 and September 28, 2013 was $106 and $86, respectively. Amortization expense relating to intangible assets for the thirty-nine weeks ended September 27, 2014 and September 28, 2013 was $316 and $299, respectively.
The following table summarizes the future estimated annual amortization expense for these assets over the next five years (in thousands):
 
2014
$
115

2015
458

2016
458

2017
320

2018
162

Thereafter
309

Total
$
1,822