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Intangible And Other Assets
12 Months Ended
Dec. 31, 2011
Intangible And Other Assets [Abstract]  
Intangible And Other Assets

7. Intangible and Other Assets

The following table summarizes intangibles and other assets—net as of fiscal year end 2011 and 2010, respectively (in thousands):

 

                                         
            2011      2010  
     

Useful
Lives

     Carrying
Amount
     Accumulated
Amortization
     Carrying
Amount
     Accumulated
Amortization
 

Intangibles—subject to amortization:

                                            

Trademarks

           $ 4,121       $ 2,109       $ 2,666       $ 1,795   

Customer lists

     9yrs.         7,636         7,274         7,937         6,963   

Patents

     14-20 yrs.         773         394         775         349   

Other

     7-20 yrs.         193         190         194         187   
             

 

 

    

 

 

    

 

 

    

 

 

 

Total intangibles—subject to amortization

              12,723         9,967         11,572         9,294   

Intangibles—not subject to amortization:

                                            

Trade names

              18,936                18,938          

Other assets:

                                            

Key money deposits

              31,804         10,291         22,973         7,720   

Other deposits

              13,685                11,991            

Deferred compensation plan assets

              2,897                3,295          

Deferred tax asset

              4,875                  926            

Restricted cash

              2,114                  0            

Other

              10,868         3,748         5,689         2,633   
             

 

 

    

 

 

    

 

 

    

 

 

 

Total other assets

              66,243         14,039         44,874         10,353   
             

 

 

    

 

 

    

 

 

    

 

 

 

Total intangible and other assets

            $ 97,902       $ 24,006       $ 75,384       $ 19,647   
             

 

 

    

 

 

    

 

 

    

 

 

 

Total intangible and other assets—net

                     $ 73,896                $ 55,737   
                      

 

 

             

 

 

 

Amortization expense for intangible assets, key money deposits and other assets was approximately $5.1 million, $5.9 million and $4.4 million for fiscal years 2011, 2010 and 2009, respectively. Estimated aggregate future amortization expense for intangible assets, key money deposits and other assets is estimated as follows (in thousands):

 

         

Fiscal Year

   Amortization Expense  

2012

   $ 5,254   

2013

     4,478   

2014

     3,990   

2015

     3,496   

2016

     2,936   

As noted in Note 1, the Company performed its annual impairment test of certain trade names. At December 31, 2011, the estimated fair value of the Company's MICHELE and ZODIAC tradenames exceeded the carrying cost of these indefinite-lived intangible assets, therefore no impairment charges were recorded. The OYZTERBAY trade name carrying value was written down to zero in fiscal year 2010, therefore no impairment testing of that trade name was performed in fiscal year 2011. During fiscal year 2010, the Company's annual impairment analysis resulted in net of tax impairment charges of $837,000 and $789,000 to the OYZTERBAY and ZODIAC trade names, respectively. During fiscal year 2009, the Company's annual impairment analysis resulted in net of tax impairment charges of $0.4 million and $1.8 million to the OYZTERBAY and ZODIAC trade names, respectively. The ZODIAC and OYZTERBAY trade names are reported within the Europe wholesale segment.