Jamba Juice 2007 Annual Report Download - page 94
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Table of Contents
Other intangible assets—net represent lease acquisition costs and consist of the following (in thousands):
$1,413 $ (791) $622
Retirements (18) 18 —
Amortization — (115) (115)
1,395 (888) 507
Retirements (60) 60 —
Amortization — (111) (111)
1,335 (939) 396
Amortization — (107) (107)
1,335 (1,046) 289
Amortization — (45) (45)
$ 1,335 $ (1,091) $244
Estimated amortization expense for the next three years is approximately $50,000 per year until 2009, when the estimated amortization expense will total
approximately $35,000 for fiscal years 2010 through 2015.
Loss on asset impairment, store closures and disposals of fixed assets consisted of the following (in thousands):
Asset impairment $ 182 $1,065 $ 397 $ 532
Loss on store closures 78 1,027 6 29
Loss on disposal of other assets 846 676 616 860
Total $1,106 $2,768 $1,019 $1,421
Asset Impairment—Due to declining market conditions, competition, insufficient occupancy rates in neighboring businesses and other factors, Jamba
Juice Company recorded non-cash impairment charges of $0.2 million, $1.1 million, $0.4 million, and $0.5 million in the 22 Week Period and fiscal 2006,
2005, and 2004, respectively, to write down a portion of the leasehold improvements, furniture and fixtures, and equipment values of certain stores to their
estimated fair values.
Jamba Juice Company considered several factors when estimating the future operating cash flows of the stores, including quality of the local market and
real estate, the store’s historical cash flows, local competition, saturation of markets due to proximity of other stores, general economic conditions and other
trends.
Store Closures —During the 22 Week Period and fiscal 2006, 2005 and 2004, Jamba Juice Company closed one, three, two, and one stores,
respectively. Jamba Juice Company recorded losses related to store closures of $78,000, $1,027,000, $6,000, and $29,000 in the 22 Week Period and fiscal
2006, 2005 and 2004, respectively.
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