GameStop 2009 Annual Report Download - page 88

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8. Goodwill, Intangible Assets and Deferred Financing Fees
The changes in the carrying amount of goodwill for the Company’s business segments for the 52 weeks ended
January 31, 2009 and the 52 weeks ended January 30, 2010 were as follows:
United States Canada Australia Europe Total
(In thousands)
Balance at February 2, 2008 ............ $1,096,622 $116,818 $147,224 $ 41,776 $1,402,440
Goodwill acquired, net ................ — — 423 459,244 459,667
Foreign currency translation adjustment .... — (4,847) (22,084) (2,165) (29,096)
Balance at January 31, 2009 ............ 1,096,622 111,971 125,563 498,855 1,833,011
Goodwill acquired, net ................ 3,763 — — 2,561 6,324
Foreign currency translation adjustment .... (220) 16,589 48,564 42,245 107,178
Balance at January 30, 2010 ............ $1,100,165 $128,560 $174,127 $543,661 $1,946,513
There were no impairments to goodwill during the 52 weeks ended January 30, 2010 and January 31, 2009.
Intangible assets consist of point-of-sale software and amounts attributed to favorable leasehold interests
acquired in the EB merger and Micromania acquisition and are included in other non-current assets in the
consolidated balance sheet. The tradename acquired in the Micromania acquisition in the amount of $133,231 has
been determined to be an indefinite lived intangible asset and is therefore not subject to amortization. The total
weighted-average amortization period for the remaining intangible assets, excluding goodwill, is approximately ten
years. The intangible assets are being amortized based upon the pattern in which the economic benefits of the
intangible assets are being utilized, with no expected residual value.
The deferred financing fees associated with the Company’s revolving credit facility and senior notes issued in
connection with the financing of the EB merger are included in other noncurrent assets in the consolidated balance
sheet. The deferred financing fees are being amortized over five and seven years to match the terms of the revolving
credit facility and the senior notes, respectively.
F-20
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)