Sally Beauty Supply 2006 Annual Report Download - page 74
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Table of Contents
Sally Holdings, Inc. and Subsidiaries
(A Wholly-Owned Subsidiary of Alberto-Culver Company)
Notes to Consolidated Financial Statements
The following table provides the gross carrying value and accumulated amortization for intangible assets with indefinite lives and
intangible assets subject to amortization by operating segment at September 30, 2006 and 2005 (in thousands):
Sally
Beauty
Beauty
Systems
Supply Group Total
Balance at September 30, 2006:
Intangible assets with indefinite lives:
Trade names $ 713 $ 34,480 $ 35,193
Other intangibles
—
6,053 6,053
Total 713 40,533 41,246
Intangible assets subject to amortization:
Gross carrying amount
—
20,187 20,187
Accumulated amortization
—
(8,195 ) (8,195 )
Net value
—
11,992 11,992
Total intangible assets, net $ 713 $ 52,525 $ 53,238
Balance at September 30, 2005:
Intangible assets with indefinite lives:
Trade names $ 613 $ 30,001 $ 30,614
Other intangibles
—
6,053 6,053
Total 613 36,054 36,667
Intangible assets subject to amortization:
Gross carrying amount
—
17,022 17,022
Accumulated amortization
—
(5,407 ) (5,407 )
Net value
—
11,615 11,615
Total intangible assets, net $ 613 $ 47,669 $ 48,282
The increase in Beauty Systems Group’ s trade names and intangible assets subject to amortization was primarily due to the
acquisition of Salon Success. Amortization expense totaled $3.0 million, $3.3 million and $0.8 million in fiscal years 2006, 2005 and
2004, respectively. As of September 30, 2006, future amortization expense related to intangible assets subject to amortization is
estimated to be as follows (in millions):
Year ending September 30:
2007 $ 2.8
2008 2.6
2009 2.6
2010 1.9
2011 1.5
Thereafter 0.6
$ 12.0
6. Accounts Payable and Accrued Expenses
Accounts payable at September 30, 2006 and 2005 include book cash overdrafts of $6.5 million and $16.8 million, respectively.
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