Dick's Sporting Goods 2015 Annual Report Download - page 54

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The Company had indefinite-lived and finite-lived intangible assets of $104.7 million and $4.8 million, respectively, as of
January€30, 2016 and $103.8 million and $6.3 million, respectively, as of January€31, 2015. During fiscal 2014, the Company
recorded a $12.4 million non-cash impairment charge for a trademark and trade name related to the Company's golf
restructuring to reduce the carrying value of the respective assets to their estimated fair value.
On October 1, 2014, the Company purchased the intellectual property rights to the Field€& Stream mark in product categories
that were not otherwise owned by the Company for€$26.3 million.€The Company previously owned the intellectual property
rights to the Field & Stream mark in the hunt, camp, fish and paddle product categories. These Field & Stream intellectual
property assets are indefinite-lived intangible assets, which are not being amortized.
The components of intangible assets were as follows (in thousands):
2015 2014
Gross
Amount
Accumulated
Amortization
Gross
Amount
Accumulated
Amortization
Trademarks (indefinite-lived) $89,056 $—$87,081 $—
Trade name (indefinite-lived) 9,850 — 11,400 —
Customer list 1,200 (1,200)1,200 (1,200)
Favorable leases and other finite-lived intangible assets 16,205 (11,435)16,205 (9,882)
Other indefinite-lived intangible assets 5,764 — 5,358 —
Total intangible assets $122,075 $(12,635) $ 121,244 $(11,082)
Amortization expense for the Company's finite-lived intangible assets was $1.6 million, $2.5 million and $2.3 million for fiscal
2015, 2014 and 2013, respectively. The annual estimated amortization expense of the finite-lived intangible assets recorded as
of January€30, 2016 is expected to be as follows (in thousands):
Fiscal Year
Estimated
Amortization
Expense
2016 $ 1,498
2017 1,273
2018 1,055
2019 554
2020 240
Thereafter 150
Total $ 4,770
DICK'S SPORTING GOODS,€INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
3. Store Closings
The following table summarizes the activity of the Company's store closing reserves (in thousands):
2015 2014
Accrued store closing and relocation reserves, beginning of period $12,785 $17,102
Expense charged to earnings 4,496 2,149
Cash payments (5,344)(6,381)
Interest accretion and other changes in assumptions (235)(85)
Accrued store closing and relocation reserves, end of period 11,702 12,785
Less: current portion of accrued store closing and relocation reserves (4,394)(4,208)
Long-term portion of accrued store closing and relocation reserves $7,308 $8,577
48