Advance Auto Parts 2006 Annual Report Download - page 82

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ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
December 30, 2006, December 31, 2005 and January 1, 2005
(in thousands, except per share data)
September 14,
2005
Cash 223$
Receivables, net 10,224
Inventories 32,914
Other current assets 812
Property and equipment 5,332
Goodwill 17,625
Intangible assets 29,000
Other assets 1,454
Total assets acquired 97,584
Accounts payable (5,690)
Current liabilities (4,062)
Other long-term liabilities (206)
Total liabilities assumed (9,958)
Net assets acquired 87,626$
The following unaudited proforma information presents the results of operations of the Company as if the
acquisition had taken place at the beginning of the applicable period:
December 31,
2005
January 1,
2005
Net sales 4,337,461$ 3,857,646$
Net income 238,290 189,138
Earnings per diluted share 2.17$ 1.67$
4. Goodwill and Intangible Assets:
The carrying amount and accumulated amortization of acquired intangible assets as of December 30, 2006 include:
Acquired intangible assets Gross Carrying Accumulated Net Book
subject to amortization: Amount Amortization Value
Customer relationships 9,600$ (1,181)$ 8,419$
Other 885 (178) 707
Total 10,485$ (1,359)$ 9,126$
Acquired intangible assets
not subject to amortization:
Trademark and tradenames 18,800$ -$ 18,800$
As of December 30, 2006
The Company recorded amortization expense of $1,359 for acquired intangible assets for the fiscal year ended
December 30, 2006. The table below shows expected amortization expense for the next five years for acquired
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