Advance Auto Parts 2008 Annual Report Download - page 73

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ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
January 3, 2009, December 29, 2007 and December 30, 2006
(in thousands, except per share data)
The accompanying notes to the consolidated financial statements
are an integral part of these statements.
F-19
Not Subject
to Amortization
Customer Trademark and Intangible
Relationships Other Tradenames Assets, net
Gross:
Gross carrying amount at December 30, 2006 9,600$ 885$ 18,800$ 29,285$
Additions - - - -
Gross carrying amount at December 29, 2007 9,600$ 885$ 18,800$ 29,285$
Additions 200 - 1,750 1,950
Gross carr
y
in
g
amount at Januar
y
3, 2009 9,800$ 885$ 20,550$ 31,235$
Net:
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$
Additions 200 - 1,750 1,950
2008 amortization (1,098) (129) - (1,227)
Net book value at Januar
y
3, 2009 6,566$ 451$ 20,550$ 27,567$
Acquired intangible assets
Subject to Amortization
During the second quarter of fiscal 2008, AI acquired certain customer relationships for $200 in connection
with an acquisition of a small retail chain.
During the first quarter of fiscal 2008, the Company acquired from a Kentucky entity for $1,750 the limited
territorial rights the Kentucky entity had in the “Advance Auto Parts” trademark, ownership of certain websites and
access to the Louisville, Kentucky market. This acquisition improved the Company’s trademark rights, opened a
new metropolitan market for the Company and is expected to increase traffic to the Company’s website.
Future Amortization Expense
The table below shows expected amortization expense for the next five years for acquired intangible assets
recorded as of January 3, 2009:
Fiscal Year 2009 1,143$
2010 1,059
2011 967
2012 967
2013 967