| Intangible Assets, Net |
6. Intangible Assets, Net
Net intangible assets consisted of the following:
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April 1, 2017
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Gross
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Weighted
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Carrying
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Accumulated
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Average
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Amount
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Amortization
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Net
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Useful Life
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(in thousands, except for weighted average useful life)
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Customer lists
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$
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4,694
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$
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(3,810)
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$
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884
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4.6
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Non-compete agreements
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990
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(915)
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75
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4.8
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Below-market leases
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4,918
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(2,043)
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2,875
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11.6
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Total definite lived
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10,602
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(6,768)
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3,834
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Trademarks—indefinite lived
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60,677
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—
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60,677
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Total intangible assets
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$
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71,279
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$
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(6,768)
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$
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64,511
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March 26, 2016
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Gross
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Weighted
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Carrying
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Accumulated
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Average
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Amount
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Amortization
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Net
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Useful Life
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(in thousands, except for weighted average useful life)
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Customer lists
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$
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7,788
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$
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(6,172)
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$
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1,616
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4.9
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Non-compete agreements
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1,290
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(968)
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322
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4.9
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Below-market leases
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5,248
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(1,702)
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3,546
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9.4
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Total definite lived
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14,326
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(8,842)
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5,484
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Trademarks—indefinite lived
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59,377
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—
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59,377
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Total intangible assets
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$
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73,703
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$
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(8,842)
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$
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64,861
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Amortization expense for intangible assets totaled $2.2 million, $2.5 million and $2.6 million for fiscal 2017, 2016 and 2015, respectively, and is included in selling, general and administrative expenses.
As of April 1, 2017, estimated future amortization of intangible assets was as follows:
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Fiscal year
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(in thousands)
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2018
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$
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1,128
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2019
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624
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2020
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477
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2021
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308
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2022
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215
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Thereafter
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1,082
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Total
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$
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3,834
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