Neiman Marcus 2012 Annual Report Download - page 110
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Table of Contents
We also measure certain non-financial assets at fair value on a non-recurring basis, primarily long-lived assets, intangible assets and goodwill, in
connection with our periodic evaluations of such assets for potential impairment. See Note 1 of the Notes to Consolidated Financial Statements for additional
information related to indefinite-lived intangible assets and goodwill.
NOTE 3. PROPERTY AND EQUIPMENT, NET
The significant components of our property and equipment, net are as follows:
(in thousands)
August 3,
2013
July 28,
2012
Land, buildings and improvements $ 1,017,463 $ 980,331
Fixtures and equipment 904,879 833,918
Construction in progress 49,648 24,051
1,971,990 1,838,300
Less: accumulated depreciation and amortization 1,070,146 943,822
Property and equipment, net $901,844 $ 894,478
NOTE 4. GOODWILL AND INTANGIBLE ASSETS, NET
The significant components of our intangible assets and goodwill, by our reportable operating segments, are as follows:
(in thousands) Customer Lists
Favorable
Lease
Commitments Tradenames Goodwill
Specialty Retail Stores
Balance at July 30, 2011 $268,698 $ 375,808 $ 1,094,195 $959,662
Amortization (29,004) (17,878) — —
Balance at July 28, 2012 239,694 357,930 1,094,195 959,662
Amortization (29,004) (17,877) — —
Balance at August 3, 2013 $210,690 $340,053 $1,094,195 $959,662
Online
Balance at July 30, 2011 $ 2,131 $ — $ 138,875 $303,771
Amortization (2,131) — (1,110) —
Balance at July 28, 2012 — — 137,765 303,771
Amortization — — (555) —
Balance at August 3, 2013 $ — $ — $ 137,210 $303,771
Total at August 3, 2013 $210,690 $340,053 $ 1,231,405 $ 1,263,433
Total accumulated amortization at August 3, 2013 $ 365,800 $ 139,927 $4,440
F-16