Rayovac 2014 Annual Report Download - page 104
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SPECTRUM BRANDS HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(Amounts in thousands, except per share figures)
The carrying value and accumulated amortization for intangible assets subject to amortization are as
follows:
September 30,
2014
September 30,
2013
Technology Assets Subject to Amortization:
Gross balance .............................................. $192,179 $ 172,105
Accumulated amortization .................................... (57,567) (39,028)
Carrying value, net .......................................... $134,612 $ 133,077
Trade Names Subject to Amortization:
Gross balance .............................................. $171,072 $ 171,572
Accumulated amortization .................................... (60,997) (44,660)
Carrying value, net .......................................... $110,075 $ 126,912
Customer Relationships Subject to Amortization:
Gross balance .............................................. $877,157 $ 885,895
Accumulated amortization .................................... (204,579) (160,768)
Carrying value, net .......................................... $672,578 $ 725,127
Total Intangible Assets, net Subject to Amortization ............. $917,265 $ 985,116
Amortization expense for the years ended September 30, 2014, September 30, 2013 and September 30, 2012
is as follows:
2014 2013 2012
Proprietary technology amortization ......................... $18,552 $16,260 $ 9,133
Trade names amortization ................................. 16,448 16,587 14,347
Customer relationships amortization ......................... 46,728 44,932 40,186
$81,728 $77,779 $63,666
The Company estimates annual amortization expense of intangible assets for the next five fiscal years will
approximate $77,500 per year.
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