Toro 2012 Annual Report Download - page 60
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Please find page 60 of the 2012 Toro annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Other Intangible Assets – The components of other intangible
assets were as follows:
4OTHER INCOME, NET
Estimated Gross
Other income (expense) is as follows: Life Carrying Accumulated
October 31, 2012 (Years) Amount Amortization Net
Fiscal years ended October 31 2012 2011 2010 Patents 1.5-13 $ 9,593 $ (8,031) $ 1,562
Interest income $ 786 $1,072 $ 1,056 Non-compete agreements 1.5-10 6,303 (3,656) 2,647
Retail financing revenue 1,106 966 779 Customer-related 1.5-13 8,312 (3,826) 4,486
Foreign currency exchange rate (loss) gain (1,786) (1,751) 813 Developed technology 1.5-10 27,727 (10,196) 17,531
Income from affiliates 5,996 5,682 2,599 Trade names 1.5-5 1,515 (557) 958
Litigation (settlements) recovery, net (36) 543 57 Other 800 (800) –
Miscellaneous 1,489 797 1,811 Total amortizable 54,250 (27,066) 27,184
Total other income, net $ 7,555 $7,309 $ 7,115 Non-amortizable – trade
names 4,881 – 4,881
Total other intangible
GOODWILL AND OTHER INTANGIBLE assets, net $ 59,131 $(27,066) $32,065
5ASSETS
Goodwill – The changes in the net carrying amount of goodwill for Estimated Gross
fiscal 2012 and 2011 were as follows: Life Carrying Accumulated
October 31, 2011 (Years) Amount Amortization Net
Patents 5-13 $ 9,403 $ (7,505) $ 1,898
Professional Residential
Non-compete agreements 2-10 6,250 (2,685) 3,565
Segment Segment Total
Customer related 5-13 8,189 (2,857) 5,332
Balance as of October 31, 2010 $75,422 $10,978 $86,400 Developed technology 2-10 25,236 (7,016) 18,220
Addition from acquisitions 5,765 – 5,765 Trade name 5 1,500 (250) 1,250
Translation and other adjustments (197) 52 (145) Other 800 (800) –
Balance as of October 31, 2011 $80,990 $11,030 $92,020 Total amortizable 51,378 (21,113) 30,265
Translation adjustments (6) (14) (20)
Non-amortizable – trade
Balance as of October 31, 2012 $80,984 $11,016 $92,000 names 5,281 – 5,281
Total other intangible
assets, net $ 56,659 $(21,113) $35,546
Amortization expense for intangible assets for the fiscal years
ended October 31, 2012, 2011, and 2010 was $6,008, $4,967, and
$2,903, respectively. Estimated amortization expense for the suc-
ceeding fiscal years is as follows: 2013, $5,732; 2014, $5,309;
2015, $5,113; 2016, $4,593; 2017, $3,699; and after 2017, $2,738.
6SHORT-TERM CAPITAL RESOURCES
As of October 31, 2012, the company had a $150,000 unsecured
senior four-year revolving credit facility that expires in July 2015.
Included in this $150,000 revolving credit facility is a sublimit for
standby letters of credit and a sublimit for swingline loans. At the
election of the company, and the approval of the named borrowers
on the revolving credit facility, the aggregate maximum principal
amount available under the facility may be increased by an amount
up to $100,000 in aggregate. Funds are available under the revolv-
ing credit facility for working capital, capital expenditures, and other
lawful purposes, including, but not limited to, acquisitions and stock
repurchases. Interest expense on this credit line is determined
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