Lululemon 2011 Annual Report Download - page 63

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Table of Contents
4 PROPERTY AND EQUIPMENT
Included in the cost of property and equipment are capitalized software costs of $14,150 and $17,252 at January 29, 2012 and January 30,
2011, respectively, associated with internally developed software.
Depreciation expense related to property and equipment was $28,709, $23,549 and $19,758 for the years ended January 29,
2012, January 30, 2011, and January 31, 2010, respectively.
5 GOODWILL AND INTANGIBLE ASSETS
Amortization expense related to intangible assets was $1,311, $1,065, and $1,074 for the years ended January 29, 2012, January 30, 2011,
and January 31, 2010, respectively. The estimated aggregate amortization expense is as follows:
During September 2011, the Company reacquired in asset purchase transactions four franchised stores for a total cash consideration of
$5,654 plus working capital adjustments of $170. Included in the Company’s consolidated statements of operations for the year ended
January 29, 2012 are the results of the reacquired franchised stores from the dates of acquisition to January 29, 2012.
60
January 29,
2012
January 30,
2011
Land
$
60,014
$
—
Buildings
5,018
—
Leasehold improvements
113,931
84,773
Furniture and fixtures
22,512
17,940
Computer hardware and software
51,657
34,581
Equipment and vehicles
1,285
1,038
Accumulated amortization and depreciation
(91,476
)
(67,378
)
$
162,941
$
70,954
January 29,
2012
January 30,
2011
Goodwill
$
23,609
$
18,437
Changes in foreign currency exchange rates
2,727
1,837
26,336
20,274
Intangibles
—
reacquired franchise rights
$
10,709
$
10,709
Non
-
competition agreements
694
694
Accumulated amortization
(7,676
)
(6,355
)
Changes in foreign currency exchange rates
1,809
1,790
5,536
6,838
Total goodwill and intangibles
$
31,872
$
27,112
Fiscal Year
2012
$
1,327
2013
1,145
2014
1,011
2015
895
2016
809
Thereafter
349
$
5,536