WeightWatchers 2013 Annual Report Download - page 102

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
The carrying amount of finite-lived intangible assets as of December 28, 2013 and December 29, 2012 was
as follows:
December 28, 2013 December 29, 2012
Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
Capitalized software costs ............................ $ 85,095 $ 62,418 $ 86,857 $ 54,134
Trademarks ........................................ 10,691 9,955 10,342 9,615
Website development costs ........................... 69,660 48,060 57,042 38,357
Other ............................................. 7,021 6,737 7,034 6,689
$172,467 $127,170 $161,275 $108,795
As described in Note 2, in fiscal 2013, the Company recorded an impairment charge of $1,235 for
amortizable intangible assets related to the shutdown of its China operations and an impairment charge of $2,653
related to internal-use computer software that was not expected to provide substantive service potential.
Estimated amortization expense of existing finite-lived intangible assets for the next five fiscal years is as
follows:
2014 ............................................................. $20,841
2015 ............................................................. $14,997
2016 ............................................................. $ 7,593
2017 ............................................................. $ 1,765
2018 and thereafter .................................................. $ 101
5. Property and Equipment
The components of property and equipment were:
December 28,
2013
December 29,
2012
Equipment ................................................. $123,210 $ 113,301
Leasehold improvements ...................................... 77,771 70,229
200,981 183,530
Less: Accumulated depreciation and amortization .................. (113,929) (111,762)
$ 87,052 $ 71,768
As described in Note 2, in fiscal 2013, the Company commenced the shutdown of its China operations and,
as a result, recorded an impairment charge of $372 related to property, plant and equipment.
Depreciation and amortization expense of property and equipment for the fiscal years ended December 28,
2013, December 29, 2012 and December 31, 2011 was $20,342, $18,844 and $14,450, respectively.
F-16