XML 59 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
INTANGIBLE AND OTHER ASSETS
9 Months Ended
Sep. 28, 2013
INTANGIBLE AND OTHER ASSETS  
INTANGIBLE AND OTHER ASSETS

11. INTANGIBLE AND OTHER ASSETS

 

The following table summarizes intangible and other assets (in thousands):

 

 

 

 

 

September 28, 2013

 

December 29, 2012

 

 

 

Useful

 

Gross

 

Accumulated

 

Gross

 

Accumulated

 

 

 

Lives

 

Amount

 

Amortization

 

Amount

 

Amortization

 

Intangibles-subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

Trademarks

 

10 yrs.

 

$

4,175

 

$

2,628

 

$

4,135

 

$

2,400

 

Customer lists

 

5-10 yrs.

 

42,996

 

13,013

 

32,144

 

9,980

 

Patents

 

3-20 yrs.

 

2,273

 

1,224

 

2,273

 

815

 

Noncompete agreement

 

6 yrs.

 

1,905

 

476

 

1,895

 

237

 

Other

 

7-20 yrs.

 

261

 

203

 

258

 

194

 

Total intangibles-subject to amortization

 

 

 

51,610

 

17,544

 

40,705

 

13,626

 

Intangibles-not subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

 

 

83,650

 

 

 

83,647

 

 

 

Other assets:

 

 

 

 

 

 

 

 

 

 

 

Key money deposits

 

 

 

35,081

 

15,884

 

35,655

 

14,060

 

Other deposits

 

 

 

21,924

 

 

 

17,591

 

 

 

Deferred compensation plan assets

 

 

 

2,329

 

 

 

3,188

 

 

 

Deferred tax asset-net

 

 

 

6,149

 

 

 

6,536

 

 

 

Restricted cash

 

 

 

702

 

 

 

991

 

 

 

Shop-in-shop

 

 

 

14,303

 

6,958

 

11,396

 

5,297

 

Other

 

 

 

2,753

 

0

 

3,948

 

1

 

Total other assets

 

 

 

83,241

 

22,842

 

79,305

 

19,358

 

Total intangible and other assets

 

 

 

$

218,501

 

$

40,386

 

$

203,657

 

$

32,984

 

Total intangible and other assets-net

 

 

 

 

 

$

178,115

 

 

 

$

170,673

 

 

Key money is the amount of funds paid to a landlord or tenant to acquire the rights of tenancy under a commercial property lease for a certain property. Key money represents the “right to lease” with an automatic right of renewal. This right can be subsequently sold by the Company or can be recovered should the landlord refuse to allow the automatic right of renewal to be exercised. Key money is amortized over the initial lease term, which ranges from approximately four to 18 years.

 

Amortization expense for intangible assets was approximately $1.3 million, $0.9 million, $3.9 million and $2.4 million for the Third Quarter, Prior Year Quarter, Year To Date Period, and Prior Year YTD Period, respectively. Estimated aggregate future amortization expense by fiscal year for intangible assets is as follows (in thousands):

 

 

 

Amortization
Expense

 

2013 (remaining)

 

$

1,285

 

2014

 

5,147

 

2015

 

4,755

 

2016

 

4,616

 

2017

 

4,358

 

2018

 

 

3,993