iRobot 2010 Annual Report Download - page 106

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4. Property and Equipment
Property and equipment consists of the following at:
January 1,
2011
January 2,
2010
(In thousands)
Computer and equipment . . . .................................... $16,852 $12,789
Furniture ................................................... 2,484 1,656
Machinery .................................................. 1,981 1,517
Tooling .................................................... 5,213 3,723
Leasehold improvements . . . .................................... 13,532 12,579
Software purchased for internal use ............................... 5,771 4,858
45,833 37,122
Less: accumulated depreciation .................................. 20,213 16,892
$25,620 $20,230
Depreciation expense for the years ended January 1, 2011, January 2, 2010 and December 27, 2008 was
$7.0 million, $7.5 million, and $6.9 million, respectively.
5. Other Assets
Other assets consists of the following at:
January 1,
2011
January 2,
2010
(In thousands)
Goodwill and intangible assets, net................................ $11,280 $11,754
Investment in Advanced Scientific Concepts, Inc. .................... 2,500 2,500
$13,780 $14,254
Goodwill and Intangible assets are the result of the acquisition of Nekton Research, LLC (“Nekton”), See
Notes 13 and 14 to the Consolidated Financial Statements for a more detailed discussion of the Goodwill and
intangible assets, net.
In November 2007, the Company recorded an investment of $2.5 million in a series of preferred stock of
Advanced Scientific Concepts, Inc. This investment is accounted for at cost. The Company regularly monitors this
investment to determine if facts and circumstances have changed in a manner that would require a change in
accounting methodology. Additionally, the Company regularly evaluates whether or not this investment has been
impaired by considering such factors as economic environment, market conditions, operational performance and
other specific factors relating to the business underlying the investment. If any such impairment is identified, a
reduction in the carrying value of the investment would be recorded at that time.
60
iROBOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)