Pier 1 2007 Annual Report Download - page 53
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Kids. The following is a summary of the Company’s intangible assets at March 3, 2007 and February 25, 2006
(in thousands):
2007 2006
Geographic market rights, gross .................................. $14,722 $ 14,926
Accumulated amortization ...................................... (14,378) (13,088)
Geographic market rights, net .................................. $ 344 $ 1,838
Acquired operating leases, gross .................................. $ 1,466 $ 1,615
Accumulated amortization ...................................... (604) (463)
Acquired operating leases, net .................................. $ 862 $ 1,152
Goodwill, not amortized ...................................... $ — $ 4,088
Estimated future amortization expense related to intangible assets at March 3, 2007 is as follows
(in thousands):
Fiscal Year
Amortization
Expense
2008 .............................................................. $ 461
2009 .............................................................. 117
2010 .............................................................. 117
2011 .............................................................. 116
2012 .............................................................. 108
Thereafter .......................................................... 287
Total future amortization expense ....................................... $1,206
NOTE 6 — OTHER ACCRUED LIABILITIES AND NONCURRENT LIABILITIES
The following is a summary of other accrued liabilities and noncurrent liabilities at March 3, 2007 and
February 25, 2006 (in thousands):
2007 2006
Accrued payroll and other employee-related liabilities . . ............... $ 40,610 $ 39,448
Accrued taxes, other than income ................................ 26,035 24,652
Retirement benefits ........................................... 16,358 —
Other ..................................................... 36,538 33,393
Other accrued liabilities ...................................... $119,541 $ 97,493
Rent-related liabilities ......................................... $ 41,488 $ 41,865
Deferred gains .............................................. 23,053 4,101
Retirement benefits ........................................... 21,857 56,404
Other ..................................................... 370 4,661
Other noncurrent liabilities.................................... $ 86,768 $107,031
51
Pier 1 Imports, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)