American Home Shield 2011 Annual Report Download - page 90
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Table of Contents
Notes to the Consolidated Financial Statements (Continued)
Note 4. Goodwill and Intangible Assets (Continued)
The table below summarizes the goodwill balances by segment for continuing operations:
(In thousands) TruGreen Terminix
American
Home
Shield
ServiceMaster
Clean
Other
Operations &
Headquarters Total
Balance at
Dec. 31,
2009 $1,178,436 $1,361,698 $348,010 $ 135,713 $ 51,996 $3,075,853
Acquisitions 12,655 36,287 — — 1,214 50,156
Other(1) (20) (571) (227) 181 (79) (716)
Balance at
Dec. 31,
2010 1,191,071 1,397,414 347,783 135,894 53,131 3,125,293
Acquisitions 11,682 27,789 — — — 39,471
Other(1) (831) (685) (210) (217) (841) (2,784)
Balance at
Dec. 31,
2011 $1,201,922 $1,424,518 $347,573 $ 135,677 $ 52,290 $3,161,980
Reflects the impact of the amortization of tax deductible goodwill and foreign exchange rate changes. For 2011, the amount shown in
the Other Operations & Headquarters column also reflects $0.8 million related to the sale of certain Merry Maids company-owned
branches to existing and new franchisees.
(1)
There were no accumulated impairment losses as of December 31, 2011.
The table below summarizes the other intangible asset balances for continuing operations:
December 31, 2011 December 31, 2010
(In thousands) Gross
Accumulated
Amortization Net Gross
Accumulated
Amortization Net
Trade names(1) $2,333,500 $ — $2,333,500 $2,370,200 $ — $2,370,200
Customer
relationships 683,324 (539,638) 143,686 668,649 (464,056) 204,593
Franchise
agreements 88,000 (42,406) 45,594 88,000 (35,272) 52,728
Other 58,471 (37,712) 20,759 55,024 (29,034) 25,990
Total $3,163,295 $ (619,756)$2,543,539 $3,181,873 $ (528,362)$2,653,511
Not subject to amortization.(1)
Amortization expense of $91.4 million, $136.0 million and $158.8 million was recorded in the years ended December 31, 2011, 2010 and 2009,
respectively. For the existing intangible assets, the Company anticipates amortization expense of $63.5 million, $50.1 million, $43.0 million, $23.4 million
and $5.0 million in 2012, 2013, 2014, 2015 and 2016, respectively.
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