Advance Auto Parts 2009 Annual Report Download - page 75

Download and view the complete annual report

Please find page 75 of the 2009 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 112

  • 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
  • 110
  • 111
  • 112

ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
January 2, 2010, January 3, 2009 and December 29, 2007
(in thousands, except per share data)
.
F-22
6. Goodwill and Intangible Assets:
Goodwill
The following table reflects the carrying amount of goodwill pertaining to the Company’s two segments, and the
changes in goodwill carrying amounts, for the years ended January 2, 2010 and January 3, 2009, respectively:
AAP Segment AI Segment Total
Balance at December 29, 2007 16,093$ 17,625$ 33,718$
Fiscal 2008 activity - 885 885
Balance at January 3, 2009 16,093$ 18,510$ 34,603$
Fiscal 2009 activity - (216) (216)
Balance at January 2, 2010 16,093$ 18,294$ 34,387$
During Fiscal 2008, AI recorded goodwill in the amount of $885 and a subsequent reduction of $216 in Fiscal
2009 in connection with an acquisition of a small retail chain.
Intangible Assets Other Than Goodwill
The carrying amount and accumulated amortization of acquired intangible assets as of January 2, 2010 and
January 3, 2009 are comprised of the following:
Not Subject
to Amortization
Customer Trademark and Intangible
Relationships Other Tradenames Assets, net
Gross:
Gross carrying amount at December 29, 2007 9,600$ 885$ 18,800$ 29,285$
Additions 200 - 1,750 1,950
Gross carrying amount at January 3, 2009 9,800$ 885$ 20,550$ 31,235$
Additions - - - -
Gross carr
y
in
g
amount at Januar
y
2, 2010 9,800$ 885$ 20,550$ 31,235$
Net:
Net carrying amount 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 carrying amount at January 3, 2009 6,566$ 451$ 20,550$ 27,567$
Additions - - - -
2009 amortization (1,023) (125) - (1,148)
Net carr
y
in
g
amount at Januar
y
2, 2010 5,543$ 326$ 20,550$ 26,419$
Subject to Amortization
Acquired intangible assets
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