Avon 2010 Annual Report Download - page 107

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Intangible Assets
2010 2009
Gross
Amount
Accumulated
Amortization
Gross
Amount
Accumulated
Amortization
Amortized Intangible Assets
Customer relationships $221.9 $ (45.6) $38.5 $(31.0)
Licensing agreements 58.5 (46.1) 42.3 (37.5)
Noncompete agreements 8.2 (6.8) 7.4 (5.9)
Trademarks 6.6 (1.8) – –
Indefinite Lived Trademarks 173.4 – – –
Total $468.6 $(100.3) $88.2 $(74.4)
Aggregate Amortization Expense:
2010 $ 13.1
2009 $ 14.8
2008 $ 16.4
Estimated Amortization Expense:
2011 $ 23.6
2012 23.6
2013 21.4
2014 20.6
2015 20.0
NOTE 18. Supplemental Balance Sheet Information
At December 31, 2010 and 2009, prepaid expenses and other included the following
Prepaid expenses and other 2010 2009
Deferred tax assets (Note 7) $ 347.4 $ 303.2
Receivables other than trade 145.9 142.3
Prepaid taxes and tax refunds receivable 247.1 296.9
Prepaid brochure costs, paper and other literature 121.4 120.7
Short-term investments 17.1 26.8
Property, plant and equipment held for sale 12.8 12.8
Deferred charge – 36.9
Other 133.5 102.7
Prepaid expenses and other $1,025.2 $1,042.3
In accordance with guidance published by the International Practices Task Force, when a subsidiary in Venezuela purchases U.S. dollar
denominated cash at the parallel market exchange rate, the Venezuelan subsidiary should remeasure the cash at the parallel market
exchange rate. The subsidiary should translate the cash, as well as the remainder of its net assets, at the official rate, because this is expected
to be the rate that is available for dividend remittances. Since the remeasurement and translation occur at different exchange rates, a
difference arises between the actual U.S. dollar denominated cash balance and the “as translated” balance. The deferred charge in the table
above represents this difference for the U.S. Dollar denominated cash held by our Venezuelan subsidiary.
A V O N 2010 F-43