Sally Beauty Supply 2007 Annual Report Download - page 105
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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, 2007 and 2006 (in thousands):
Sally Beauty
Supply
Beauty Systems
Group
Total
Balance at September 30, 2007:
Intangible assets with indefinite lives:
Trade names $ 15,802 $ 34,886 $ 50,688
Other intangibles — 6,053 6,053
Total 15,802 40,939 56,741
Intangible assets subject to amortization:
Gross carrying amount 540 25,128 25,668
Accumulated amortization (18) (11,886) (11,904)
Net value 522 13,242 13,764
Total intangible assets, net $ 16,324 $ 54,181 $ 70,505
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
The increase in Sally Beauty Supply's trade names and intangible assets subject to amortization in fiscal year 2007 was primarily due to the acquisition of Salon
Services. The increase in BSG's trade names and intangible assets subject to amortization in fiscal year 2006 was primarily due to the acquisition of Salon
Success. Amortization expense totaled $3.7 million, $3.0 million and $3.3 million in fiscal years 2007, 2006 and 2005, respectively. As of September 30, 2007,
future amortization expense related to intangible assets subject to amortization is estimated to be as follows (in millions):
Fiscal Year:
2008 $ 4.2
2009 3.2
2010 2.5
2011 1.9
2012 1.0
Thereafter 1.0
$ 13.8
The weighted average amortization period is approximately four years.
F-23
Source: Sally Beauty Holding, 10-K, November 29, 2007