GameStop 2010 Annual Report Download - page 90
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Table of Contents
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
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.
The changes in the carrying amount of deferred financing fees and other intangible assets for the 52 weeks ended January 30, 2010 and
January 29, 2011 were as follows:
Deferred Other
Financing Fees Intangible Assets
(In millions)
Balance at January 31, 2009 $ 8.9 $ 247.8
Addition for revolving credit facility amendment 0.1 —
Write-off of deferred financing fees remaining on repurchased senior notes (see Note 9) (0.8) —
Addition of leasehold rights — 7.3
Adjustment for foreign currency translation — 20.0
Amortization for the 52 weeks ended January 30, 2010 (2.5) (15.2)
Balance at January 30, 2010 5.7 259.9
Addition for revolving credit facility amendment 3.8 —
Write-off of deferred financing fees remaining on repurchased senior notes (see Note 9) (1.0) —
Addition of acquired intangible assets — 10.9
Adjustment for foreign currency translation — (3.5)
Amortization for the 52 weeks ended January 29, 2011 (2.3) (12.7)
Balance at January 29, 2011 $ 6.2 $ 254.6
The gross carrying value and accumulated amortization of deferred financing fees as of January 29, 2011 were $21.4 million and
$15.2 million, respectively.
The estimated aggregate amortization expenses for deferred financing fees and other intangible assets for the next five fiscal years are
approximately:
Amortization Amortization of
of Deferred Other
Year Ended Financing Fees Intangible Assets
(In millions)
January 2012 $ 1.8 $ 13.9
January 2013 1.5 13.6
January 2014 1.2 13.0
January 2015 1.2 10.1
January 2016 0.5 7.7
$ 6.2 $ 58.3
F-20