Einstein Bros 2008 Annual Report Download - page 48

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Form 10-K
http://www.sec.gov/Archives/edgar/data/949373/000119312509042707/d10k.htm[9/11/2014 10:10:56 AM]
Other current assets
1,515
599
Total prepaid expenses and other current assets $ 5,281 $ 4,774
6. PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment consist of the following as of:
January 1,
2008
December 30,
2008
(in thousands of dollars)
Leasehold improvements $ 76,139 $ 90,723
Store and manufacturing equipment 68,714 77,045
Furniture and fixtures 1,527 1,493
Office and computer equipment 14,686 16,523
Vehicles 37 41
Property, plant and equipment 161,103 185,825
Less accumulated depreciation 113,389 126,078
Property, plant and equipment, net $ 47,714 $ 59,747
Included in our operating expenses is depreciation expense, which was $13.0 million, $11.2 million and $14.1 million for the fiscal years ended
2006, 2007 and 2008, respectively. There is no depreciation expense included in our cost of sales.
61
Table of Contents
EINSTEIN NOAH RESTAURANT GROUP, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
7. GOODWILL, TRADEMARKS AND OTHER INTANGIBLES
Goodwill, trademarks and other intangibles consist of the following as of:
January 1, December 30,
2008 2008
(in thousands of dollars)
Amortizing intangibles: 39,126 39,126
Less accumulated amortization: 39,126 39,126
Total amortizing intangibles, net $— $—
Non-amortizing intangibles:
Trademarks 63,831 63,831
Total trademarks and other intangibles, net $ 63,831 $ 63,831
Intangible amortization expense totaled approximately $3.9 million for the fiscal year ended 2006. As of January 2, 2007, all amortizing
intangibles had been fully amortized.
On January 1, 2008, we acquired the assets of a Manhattan Bagel restaurant from one of our franchisees for $382,000. We recorded the assets at
their fair value of $251,000, goodwill of $106,000 and a non-amortizing intangible asset of $25,000 for the value of the Manhattan Bagel
trademark, pursuant to EITF 04-01, Accounting for Preexisting Relationships between the Parties to a Business Combination.
8. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Accrued expenses and other current liabilities consist of the following as of:
January 1, December 30,
2008 2008
(in thousands of dollars)
Payroll and related expense $ 8,934 $ 9,913
Sales, use and property tax expense 2,920 2,720
Unvouchered receipts for purchases of property, plant and equipment 2,146 2,031
California wage and hour settlements — 1,900
Accrued expenses 2,334 1,623