WeightWatchers 2002 Annual Report Download - page 64

Download and view the complete annual report

Please find page 64 of the 2002 WeightWatchers annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 106

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106

WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
4. Goodwill and Intangible Assets (Continued)
Also, in accordance with SFAS No. 142, aggregate amortization expense for definite lived
intangible assets was recorded in the amounts of $951, $729, $338 and $512 for the fiscal years ended
December 28, 2002 and December 29, 2001, the eight months ended December 30, 2000 and the fiscal
year ended April 29, 2000, respectively.
The carrying amount of amortized intangible assets as of December 28, 2002 and December 29,
2001 was as follows:
December 28, 20002 December 29, 2001
Gross Gross
Carrying Accumulated Carrying Accumulated
Amount Amortization Amount Amortization
Deferred software cost............ $ 9,488 $ 9,097 $9,427 $ 8,852
Trademarks .................... 7,223 6,674 6,871 6,501
Non-compete Agreement .......... 1,200 575 1,200 275
Other ........................ 3,985 3,197 3,982 3,096
$21,896 $19,543 $21,480 $18,724
Estimated amortization expense of definite lived intangible assets for the next five fiscal years is as
follows:
2003 ...................................................... $766
2004 ...................................................... $619
2005 ...................................................... $201
2006 ...................................................... $133
2007 ...................................................... $96
As required by SFAS No. 142, the results for the fiscal year ended December 29, 2001 have not
been restated. A reconciliation of net income, as if SFAS No. 142 had been adopted, is presented
F-15