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Trademarks, Licenses and Other Intangible Assets
 12 Months Ended
Dec. 31, 2011
Trademarks, Licenses and Other Intangible Assets
(7) Trademarks, Licenses and Other Intangible Assets

 

2011   Gross     Accumulated     Net Book  
    Amount     Amortization     Value  
Trademarks (indefinite lives)   $ 6,590     $ —     $ 6,590  
Trademarks (finite lives)     50,127       151       49,976  
Licenses (finite lives)     70,109       23,289       46,820  
Other intangible assets (finite lives)     13,953       11,589       2,364  
Subtotal     134,189       35,029       99,160  
Total   $ 140,779     $ 35,029     $ 105,750  

 

2010   Gross     Accumulated     Net Book  
    Amount     Amortization     Value  
Trademarks (indefinite lives)   $ 6,671     $ —     $ 6,671  
Trademarks (finite lives)     51,680       134       51,546  
Licenses (finite lives)     70,250       18,881       51,369  
Other intangible assets (finite lives)     13,220       11,404       1,816  
Subtotal     135,150       30,419       104,731  
Total   $ 141,821     $ 30,419     $ 111,402  

 

In 2009, an impairment charge relating to the Nickel trademark in the amount of $0.54 million was recorded. No other impairment charges for trademarks with indefinite useful lives were required in 2011, 2010 and 2009. Amortization expense was $7.9 million, $5.7 million and $6.7 million for 2011, 2010 and 2009, respectively. Amortization expense is expected to approximate $6.8 million in 2012 and 2013, $6.4 million in 2014 and $5.9 million in 2015 and 2016. The weighted average amortization period for trademarks, licenses and other intangible assets with finite lives are 18 years, 12 years and 2 years, respectively, and 13 years in the aggregate.

 

Trademarks (finite lives) primarily represents Lanvin brand names and trademarks and in connection with their purchase, Lanvin was granted the right to repurchase the brand names and trademarks in 2025 for the greater of €70 million (approximately $91 million) or one times the average of the annual sales for the years ending December 31, 2023 and 2024 (residual value). Because the residual value of the intangible asset exceeds its carrying value, the asset is not amortized.