Advance Auto Parts 2007 Annual Report Download - page 77

Download and view the complete annual report

Please find page 77 of the 2007 Advance Auto Parts annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 109

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109

ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
December 29, 2007, December 30, 2006 and December 31, 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
Net sales 4,337,461$
Net income 238,290
Earnings per diluted share 2.17
4. Goodwill and Intangible Assets:
The carrying amount and accumulated amortization of acquired intangible assets as of December 29, 2007 and
December 30, 2006 include:
Not Subject
to Amortization
Customer Trademark and Intangible
Relationships Other Tradenames Assets, net
Gross carrying amount 9,600$ 885$ 18,800$ 29,285$
2006 amortization (1,181) (178) - (1,359)
Net book value at December 30, 2006 8,419$ 707$ 18,800$ 27,926$
2007 amortization (955) (127) - (1,082)
Net book value at December 29, 2007 7,464$ 580$ 18,800$ 26,844$
Acquired intangible assets
Subject to Amortization
The table below shows expected amortization expense for the next five years for acquired intangible assets
recorded as of December 29, 2007:
F-18