GNC 2012 Annual Report Download - page 95
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Table of Contents
NOTE 5. GOODWILL, BRANDS, AND OTHER INTANGIBLE ASSETS, NET (Continued)
The following table represents future estimated amortization expense of intangible assets with finite lives:
Year ending December 31,
Estimated
amortization
expense
(in thousands)
2012 $ 10,493
2013 10,525
2014 10,395
2015 10,473
2016 10,301
Thereafter 97,402
Total $ 149,589
NOTE 6. PROPERTY, PLANT AND EQUIPMENT, NET
Property, plant and equipment consisted of the following:
December 31,
2011 2010
(in thousands)
Land, buildings and improvements $ 63,615 $ 63,400
Machinery and equipment 97,907 89,977
Leasehold improvements 92,649 82,594
Furniture and fixtures 68,481 55,247
Software 25,093 20,393
Construction in progress 3,252 549
Total property, plant and equipment $ 350,997 $ 312,160
Less: accumulated depreciation (152,826) (118,732)
Net property, plant and equipment $ 198,171 $ 193,428
The Company recognized depreciation expense of property, plant and equipment of $38.8 million, $39.2 million and $36.9 million for the years ended
December 31, 2011, 2010 and 2009, respectively.
NOTE 7. DEFERRED REVENUE AND OTHER CURRENT LIABILITIES
Other current liabilities consisted of the following:
December 31,
2011 2010
(in thousands)
Deferred revenue $ 37,790 $ 35,467
Accrued payroll 28,063 25,656
Other current liabilities 38,672 46,970
Total $ 104,525 $ 108,093
Deferred revenue consists primarily of Gold Card membership fees and gift card deferrals. Other current liabilities consist of the liabilities related to
accrued taxes, benefits, workers compensation, accrued interest and other occupancy.
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