Rite Aid 2013 Annual Report Download - page 88
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RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended March 2, 2013, March 3, 2012 and February 26, 2011
(In thousands, except per share amounts)
9. Other Intangibles
The Company’s intangible assets are finite-lived and amortized over their useful lives. Following is
a summary of the Company’s intangible assets as of March 2, 2013 and March 3, 2012.
2013 2012
Remaining Remaining
Weighted Weighted
Gross Average Gross Average
Carrying Accumulated Amortization Carrying Accumulated Amortization
Amount Amortization Period Amount Amortization Period
Favorable leases and other . $ 623,541 $ (413,556) 10 years $ 614,862 $ (374,685) 10 years
Prescription files ........ 1,286,087 (1,031,668) 4 years 1,239,444 (950,846) 5 years
Total ................. $1,909,628 $(1,445,224) $1,854,306 $(1,325,531)
Also included in other non-current liabilities as of March 2, 2013 and March 3, 2012 are
unfavorable lease intangibles with a net carrying amount of $70,195 and $82,030, respectively.
Amortization expense for these intangible assets and liabilities was $127,737, $143,790 and
$173,618 for fiscal 2013, 2012 and 2011, respectively. The anticipated annual amortization expense for
these intangible assets and liabilities is 2014—$104,289; 2015—$87,308; 2016—$76,037; 2017—$63,004
and 2018—$25,170.
10. Accrued Salaries, Wages and Other Current Liabilities
Accrued salaries, wages and other current liabilities consisted of the following at March 2, 2013
and March 3, 2012:
2013 2012
Accrued wages, benefits and other personnel costs ....... $ 437,222 $ 415,539
Accrued sales and other taxes payable ................ 132,767 103,596
Accrued store expense ........................... 228,276 200,222
Other ....................................... 358,050 345,150
$1,156,315 $1,064,507
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