GameStop 2010 Annual Report Download - page 89
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Table of Contents
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
An allowance for doubtful accounts has been recorded to reduce receivables to an amount expected to be collectible. Receivables consisted of the
following (in millions):
January 29, January 30,
2011 2010
Bankcard receivables $ 47.5 $ 51.5
Other receivables 20.5 15.9
Allowance for doubtful accounts (2.5) (3.4)
Total receivables, net $ 65.5 $ 64.0
7. Accrued Liabilities
Accrued liabilities consisted of the following (in millions):
January 29, January 30,
2011 2010
Customer liabilities $ 242.7 $ 199.2
Deferred revenue 74.9 61.2
Accrued rent 10.4 18.7
Accrued interest 10.7 15.8
Employee benefits, compensation and related taxes 124.3 109.7
Other taxes 60.9 63.7
Settlement of treasury share purchases 22.0 64.6
Other accrued liabilities 111.1 99.2
Total accrued liabilities $ 657.0 $ 632.1
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 30, 2010 and the
52 weeks ended January 29, 2011 were as follows:
United States Canada Australia Europe Total
(In millions)
Balance at January 31, 2009 $ 1,096.6 $ 112.0 $ 125.6 $ 498.8 $ 1,833.0
Goodwill acquired, net 3.8 — — 2.5 6.3
Foreign currency translation adjustment (0.2) 16.5 48.5 42.4 107.2
Balance at January 30, 2010 1,100.2 128.5 174.1 543.7 1,946.5
Goodwill acquired, net 28.5 — — — 28.5
Foreign currency translation adjustment (0.1) 8.9 21.8 (9.3) 21.3
Balance at January 29, 2011 $ 1,128.6 $ 137.4 $ 195.9 $ 534.4 $ 1,996.3
There were no impairments to goodwill during the 52 weeks ended January 29, 2011 and January 30, 2010.
Intangible assets, primarily from the EB merger and Micromania acquisition, consist of internally developed software, amounts attributed to
favorable leasehold interests and advertiser relationships are included in other intangible assets in the consolidated balance sheet. The tradenames
acquired, primarily Micromania, in the aggregate amount of $133.4 million have been determined to be an indefinite lived intangible asset and are
therefore not subject to amortization. The total weighted-average amortization period for the remaining intangible assets,
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