What was the carrying value of Ben Jerrys' indefinite-lived intangible assets as of December 31, 2023?

According to Ben Jerrys' 2025 Franchise Disclosure Document, as of December 31, 2023, the indefinite-lived intangible assets had a carrying value of $705,000. These intangible assets primarily represent franchise territory rights owned by Ben Jerrys in California and North Carolina. These rights are considered to have indefinite lives, meaning Ben Jerrys does not incur costs to renew or extend them.

Ben Jerrys conducts an annual impairment test on these assets as of December 31 to ensure their carrying value does not exceed their fair value. This test involves comparing the fair value of the assets with their carrying value. If the carrying value is higher than the fair value, Ben Jerrys would record an impairment charge. The fair value is determined using discounted cash flows, which requires management to project revenues, expenses, and cash flows over several years and determine a weighted average cost of capital.

The valuation process involves significant judgment from Ben Jerrys' management, and changes in projections or estimates could significantly impact the estimated fair value of these intangible assets. If different assumptions or estimates are used in the future, or if unforeseen conditions arise, the operating results and balances of indefinite-lived intangible assets could be affected by impairment charges. For the years ended December 31, 2024 and 2023, there was no impairment of intangible assets.