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DICK’S SPORTING GOODS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
will not have a significant impact on the presentation of the Company’s consolidated financial
statements.
In May 2011, the FASB issued ASU 2011-04, ‘‘Amendments to Achieve Common Fair Value Measurement
and Disclosure Requirements in U.S. GAAP and IFRSs.’’ This update amended explanations of how to
measure fair value to result in common fair value measurement and disclosure requirements in U.S
GAAP and International Financial Reporting Standards. ASU 2011-04 is effective for fiscal years, and
interim periods within those years, beginning after December 15, 2011 with prospective application
required. The Company will adopt ASU 2011-04 during the first quarter of 2012. The adoption of this
guidance will not have a significant impact on the Company’s consolidated financial statements.
2. Goodwill and Other Intangible Assets
At January 28, 2012 and January 29, 2011, the Company reported goodwill of $200.6 million, net of
accumulated impairment losses of $111.3 million. There was no change in the carrying value of
goodwill during fiscal 2011 or fiscal 2010. No impairment charges were recorded for goodwill in fiscal
2011, 2010 and 2009.
The Company had indefinite-lived and finite-lived intangible assets of $44.3 million and $6.2 million,
respectively, as of January 28, 2012 and $44.2 million and $6.9 million, respectively, as of January 29,
2011. No impairment charges were recorded for the Company’s intangible assets in fiscal 2011, 2010
and 2009.
The components of intangible assets were as follows (in thousands):
2011 2010
Gross Accumulated Gross Accumulated
Amount Amortization Amount Amortization
Trademarks $ 24,270 $ - $ 24,270 $ -
Trade name (indefinite-lived) 15,900 - 15,900 -
Customer list 1,200 (720) 1,200 (480)
Favorable leases and other finite-lived intangible
assets 9,602 (3,846) 8,802 (2,662)
Other indefinite-lived intangible assets 4,084 - 4,040 -
Total intangible assets $ 55,056 $ (4,566) $ 54,212 $ (3,142)
Amortization expense for the Company’s finite-lived intangible assets is included within selling, general
and administrative expenses on the Consolidated Statements of Income, and was $1.4 million,
$1.0 million and $1.0 million for fiscal 2011, 2010 and 2009, respectively. The annual estimated
60 Dick’s Sporting Goods, Inc. 2011 Annual Report