Jamba Juice 2014 Annual Report Download - page 72
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Intangible assets, other than trademarks, are amortized over their expected useful lives, ranging from two to seven years. Amortization expense for
intangible assets for fiscal 2014, fiscal 2013 and fiscal 2012 was $0.1 million, $0.1 million and $0.2 million, respectively. The intangible assets of $1.1
million, acquired in the acquisition mentioned in Note 4 above will be reclassified to assets held for sale during the first quarter of fiscal 2015. The remaining
intangible assets, subject to amortization of $0.4 million will continue to be amortized over their estimated useful lives. Expected annual amortization
expense for the remaining intangible assets recorded as of December 30, 2014 is as follows (in thousands):
2015 $ 74
2016 73
2017 73
2018 72
2019 72
Thereafter 20
Trademarks are not subject to amortization and the Company evaluates for impairment on an annual basis during the fourth quarter or more frequently if
events or changes in circumstances indicate that the asset might be impaired. There was no impairment charge for trademarks in fiscal 2014 and fiscal 2013.
The Company had trademarks of approximately $0.9 million at December 30, 2014 and at December 31, 2013.
As of December 30, 2014 and December 31, 2013, other long-term assets consisted of the following (in thousands):
Notes receivables $ 1,256 $ 300
Deposits and other 985 898
Total $ 2,241 $ 1,198
As of December 30, 2014, notes receivables include $1.3 million due from a franchise partner. This Note has a maturity date of June 1, 2016 and the
monthly adjustable interest rate is federal funds prime rate plus 1%. As of December 31, 2013, notes receivables include $0.3 million note with a 0.5% per
annum interest rate that was converted into common stock.
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