GNC 2009 Annual Report Download - page 93
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Table of Contents
GENERAL NUTRITION CENTERS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Estimated
amortization
Years ending December 31, expense
(in thousands)
2009 9,408
2010 7,439
2011 6,942
2012 6,857
2013 6,853
Thereafter 125,677
Total $ 163,176
NOTE 8. PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment at each respective period consisted of the following:
December 31, December 31,
2008 2007
(in thousands)
Land, buildings and improvements $ 59,718 $ 59,381
Machinery and equipment 71,230 53,406
Leasehold improvements 63,701 54,897
Furniture and fixtures 38,682 32,371
Software 12,537 8,138
Construction in progress 9,301 2,527
Total property, plant and equipment $ 255,169 $ 210,720
Less: accumulated depreciation (49,015) (19,872)
Net property, plant and equipment $ 206,154 $ 190,848
The Company is a 50% limited partner in a partnership that owns and manages the building that houses the Company's corporate
headquarters. The Company occupies the majority of the available lease space of the building. The general partner is responsible for the
operation and management of the property and reports the results of the partnership to the Company. The Company has consolidated the
limited partnership, net of elimination adjustments, in the accompanying financial statements. Minority interest has been reflected in the
accompanying financial statements as the partnership had sustained cumulative net losses from inception; however, during 2007, an
insignificant net profit was realized. 87