Rayovac 2013 Annual Report Download - page 106

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SPECTRUM BRANDS HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(Amounts in thousands, except per share figures)
Appliances segment, 8 to 9 years for proprietary technology assets related to the Hardware & Home
Improvement segment, 4 to 9 years for proprietary technology assets related to the Global Pet Supplies segment,
15 to 20 years for customer relationships of the Global Batteries & Appliances segment, 20 years for customer
relationships of the Hardware & Home Improvement segment, Home and Garden Business and Global Pet
Supplies segments, 1 to 12 years for trade names within the Global Batteries & Appliances segment, 5 to 8 years
for trade names within the Hardware & Home Improvement segment and 3 years for a trade name within the
Global Pet Supplies segment.
The carrying value and accumulated amortization for intangible assets subject to amortization are as
follows:
September 30,
2013
September 30,
2012
Proprietary Technology Assets Subject to Amortization:
Gross balance .............................................. $172,105 $ 90,924
Accumulated amortization .................................... (39,028) (22,768)
Carrying value, net .......................................... $133,077 $ 68,156
Trade Names Subject to Amortization:
Gross balance .............................................. $171,572 $ 150,829
Accumulated amortization .................................... (44,660) (28,347)
Carrying value, net .......................................... $126,912 $ 122,482
Customer Relationships Subject to Amortization:
Gross balance .............................................. $885,895 $ 796,235
Accumulated amortization .................................... (160,768) (113,012)
Carrying value, net .......................................... $725,127 $ 683,223
Total Intangible Assets, net Subject to Amortization ............. $985,116 $ 873,861
Amortization expense for the years ended September 30, 2013, September 30, 2012 and September 30, 2011
is as follows:
2013 2012 2011
Proprietary technology amortization ......................... $16,260 $ 9,133 $ 6,817
Trade names amortization ................................. 16,587 14,347 12,558
Customer relationships amortization ......................... 44,932 40,186 38,320
$77,779 $63,666 $57,695
The Company estimates annual amortization expense of intangible assets for the next five fiscal years will
approximate $78,500 per year.
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