

Balance as of December 28, 2025	$	395
Acquisition of franchised stores	13
Sale of company-owned stores	(1)
Balance as of September 27, 2026	$	407


	As of September 27, 2026						As of December 28, 2025
	Gross Carrying Value		Accumulated Amortization		Net Balance		Gross Carrying Value		Accumulated Amortization		Net Balance
Indefinite-lived Assets
Trade name	$	5,710	$	—	$	5,710	$	5,710	$	—	$	5,710

Definite-lived Assets
Franchise agreements(a)	$	1,757	$	150	$	1,607	$	1,757	$	84	$	1,673
Technology(b)	61		19		42		56		10		46
Reacquired franchise rights(c)	9		1		8		—		—		—
Sub-total	$	1,827	$	170	$	1,657	$	1,813	$	94	$	1,719
Total intangible assets	$	7,537	$	170	$	7,367	$	7,523	$	94	$	7,429

(b)Technology is internally developed and includes the Company’s website, app, and point-of-sale system. The useful life is five years for the technology valued as part of the sponsor acquisition and all other capitalized software development costs.

(c)Reacquired franchise rights represent contractual rights previously granted to franchise owners that were reacquired by the Company. The useful life varies based on the remaining term of the reacquired agreement, ranging up to eight years.

Amortization expense related to definite-lived intangible assets was $26 million and $76 million for the thirteen and thirty-nine weeks ended September 27, 2026, respectively, $25 million for the thirteen weeks ended September 28, 2025 and $69 million and less than $1 million for the periods from January 16 to September 28, 2025 and January 1 to January 15, 2025, respectively. These amounts are reported within Depreciation and amortization on the Condensed Consolidated Statements of Operations.

Estimated future amortization expense for the next five years and thereafter as of September 27, 2026, is as follows: