What was the accumulated amortization for Checkersrallys as of January 2, 2023 (Predecessor)?

| Accumulated Amortization | | | Net | | Franchise agreements | $ | 1,400 | $ | (51) $ | 1,349 | $ | 29,900 | $ | (6,305) | $ | 23,595 | | Reacquired franchise rights | | = | | - | - 3 | | 3,220 | | (480) | | 2,740 | | Total finite-lived intangible assets | $ | 1,400 | $ | (51) $ | 1,349 | $ | 33,120 | $ | (6,785) | $ | 26,335 | (Tabular Dollars in Thousands, Except Share and per Share Data)

Franchise agreements are amortized based on the expected future benefits to be realized. As such, the amortization period for franchise agreements is 15 years (Successor) and 27 years (Predecessor) and amortization expense is recorded on a straight-line basis over such period. We recorded amortization expense of $0.1 million for the period ending January 1, 2024 (Successor). We recorded amortization expense of $0.5 million for the period ended June 16, 2023 (Predecessor) and $1.1 million for each of the years ended January 2, 2023 (Predecessor) and January 3, 2022 (Predecessor), which is recorded in "other depreciation and amortization" in the accompanying consolidated statements of operations.

In connection with the purchase of three restaurants in 2022 from franchisees in Florida, we recorded $0.4 million for reacquired franchise rights in 2022. The reacquired franchise rights are amortized on a straight-line basis over the useful lives of each right. The Successor period did not include the amortization of reacquired franchise rights as they were not ascribed any value as part of the Out-of-Court Restructuring and therefore amortization ceased as of that date.

The Company recorded $0.1 million for the fiscal period ended January 1, 2024 (Successor), $0.1 million for the fiscal period ended June 16, 2023 (Predecessor), $0.5 million for the year ended January 2, 2023 (Predecessor), and $0.2 million for the year ended January 3, 2022 (Predecessor) of amortization expense on reacquired franchise rights. These amounts are included in "franchise and retail royalty revenue" in the accompanying consolidated statements of operations.

In connection with the impairment charge previously discussed in Note 1, the Company recognized impairment losses related to franchise agreements of $21.7 million and trade names of $28.4 million during the period ended June 16, 2023 (Predecessor). There were no impairment losses recognized during the period ended January 1, 2024 (Successor) or the years ended January 2, 2023 (Predecessor) and January 3, 2022 (Predecessor).

Estimated future amortization of definite-lived intangible assets is as follows:

(Tabular Dollars in Thousands, Except Share and per Share Data)

12.

Source: Item 21 — FINANCIAL STATEMENTS (FDD page 91)