Dollar Rent A Car 2011 Annual Report Download - page 67

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6. PROPERTY AND EQUIPMENT
Major classes of property and equipment consist of the following:
December 31,
2011 2010
(In Thousands)
Land $ 12,009 $ 12,022
Buildings and improvements 21,382 23,325
Furniture and equipment 81,014 81,847
Leasehold improvements 128,938 128,742
Construction in progress 5,293 2,824
248,636 248,760
Less: Accumulated depreciation and amortization (164,358) (158,532)
$ 84,278 $ 90,228
The Company did not have any charges for asset impairments in 2011. In 2010 and 2009, the Company recorded a $0.4 million and $1.6 million,
respectively, non-cash charge (pretax) related primarily to the impairment of assets at its company-owned stores ($0.3 million and $0.9 million after-tax,
respectively).
7. SOFTWARE
December 31,
2011 2010
(In Thousands)
Software $ 83,501 $ 80,144
Less: Accumulated amortization (61,966) (55,967)
$ 21,535 $ 24,177
Software is amortized over its estimated useful life. The aggregate amortization expense recognized for software was $7.5 million, $7.3 million and
$8.0 million for the years ended December 31, 2011, 2010 and 2009, respectively. The estimated aggregate amortization expense for software existing at
December 31, 2011 for each of the next five years is as follows: $6.9 million, $5.3 million, $3.8 million, $2.9 million and $1.7 million.
The Company did not have any charges for asset impairments in 2011. In 2010 and 2009, the Company wrote off $0.7 million and $1.0 million
(pretax), respectively, of software no longer in use or considered impaired ($0.3 million and $0.6 million after-tax, respectively).
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