iRobot 2011 Annual Report Download - page 108

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Form 10-K
iROBOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
4. Property and Equipment
Property and equipment consists of the following at:
December 31,
2011
January 1,
2011
(In thousands)
Computer and equipment ........................................ $17,616 $16,852
Furniture ..................................................... 2,732 2,484
Machinery ................................................... 3,375 1,981
Tooling ...................................................... 7,303 5,213
Leasehold improvements ........................................ 15,459 13,532
Software purchased for internal use ................................ 8,338 5,771
54,823 45,833
Less: accumulated depreciation ................................... 25,794 20,213
$29,029 $25,620
Depreciation expense for the years ended December 31, 2011, January 1, 2011 and January 2, 2010 was
$9.0 million, $7.0 million, and $7.5 million, respectively.
5. Other Assets
Other assets consists of the following at:
December 31,
2011
January 1,
2011
(In thousands)
Goodwill and intangible assets, net ................................ $10,377 $11,280
Investment in Advanced Scientific Concepts, Inc. .................... 2,500 2,500
$12,877 $13,780
Goodwill and Intangible assets are the result of the acquisition of Nekton Research, LLC (“Nekton”), See
Note 13 to the Consolidated Financial Statements for a more detailed discussion of the Goodwill and intangible
assets, net.
In November 2007, the Company recorded an investment of $2.5 million in a series of preferred stock of
Advanced Scientific Concepts, Inc. This investment is accounted for at cost. The Company regularly monitors
this investment to determine if facts and circumstances have changed in a manner that would require a change in
accounting methodology. Additionally, the Company regularly evaluates whether or not this investment has been
impaired by considering such factors as economic environment, market conditions, operational performance and
other specific factors relating to the business underlying the investment. If any such impairment is identified, a
reduction in the carrying value of the investment would be recorded at that time. Since the Company believes the
fair value of its investment is greater than the carrying value of its investment, it has not impaired this
investment.
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