Rite Aid 2014 Annual Report Download - page 84
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RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended March 1, 2014, March 2, 2013 and March 3, 2012
(In thousands, except per share amounts)
9. Other Intangibles
The Company’s intangible assets are finite-lived and amortized over their useful lives. Following is
a summary of the Company’s intangible assets as of March 1, 2014 and March 2, 2013.
2014 2013
Remaining Remaining
Weighted Weighted
Gross Average Gross Average
Carrying Accumulated Amortization Carrying Accumulated Amortization
Amount Amortization Period Amount Amortization Period
Favorable leases and
other ............ $ 634,320 $ (447,608) 9 years $ 623,541 $ (413,556) 10 years
Prescription files ..... 1,353,057 (1,108,542) 4 years 1,286,087 (1,031,668) 4 years
Total .............. $1,987,377 $(1,556,150) $1,909,628 $(1,445,224)
Also included in other non-current liabilities as of March 1, 2014 and March 2, 2013 are
unfavorable lease intangibles with a net carrying amount of $62,687 and $70,195, respectively.
Amortization expense for these intangible assets and liabilities was $119,138, $127,737 and
$143,790 for fiscal 2014, 2013 and 2012, respectively. The anticipated annual amortization expense for
these intangible assets and liabilities is 2015—$105,149; 2016—$93,337; 2017—$80,052; 2018—$42,113
and 2019—$16,322.
10. Accrued Salaries, Wages and Other Current Liabilities
Accrued salaries, wages and other current liabilities consisted of the following at March 1, 2014
and March 2, 2013:
2014 2013
Accrued wages, benefits and other personnel costs ....... $ 449,585 $ 437,222
Accrued interest ............................... 69,193 76,164
Accrued sales and other taxes payable ................ 133,357 132,767
Accrued store expense ........................... 238,324 228,276
Other ....................................... 275,400 281,886
$1,165,859 $1,156,315
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