Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2011

Goodwill And Other Intangible Assets [Abstract]

NOTE D – GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The components of goodwill by segment are provided in the following table:


(Dollars in thousands)	North American Retail Division			North American Business Solutions Division			International Division			Total
Balance as of December 26, 2009
Goodwill	$	1,842		$	367,790		$	863,134		$	1,232,766
Accumulated impairment losses		(1,842	)		(348,359	)		(863,134	)		(1,213,335	)

		—			19,431			—			19,431
2010 Changes		—			—			—			—
Balance as of December 25, 2010
Goodwill		1,842			367,790			863,134		$	1,232,766
Accumulated impairment losses		(1,842	)		(348,359	)		(863,134	)		(1,213,335	)

		—			19,431			—			19,431
2011 Changes
Balance as of December 31, 2011
Goodwill		1,842			367,790			863,134		$	1,232,766
Accumulated impairment losses		(1,842	)		(348,359	)		(863,134	)		(1,213,335	)
Goodwill acquired during the year		—			—			45,805			45,805
Foreign currency rate impact								(3,337	)		(3,337	)

	$	—		$	19,431		$	42,468		$	61,899

Other Intangible Assets

Indefinite-lived intangible assets related to acquired trade names were $5.5 million and $5.6 million, at December 31, 2011 and December 25, 2010, respectively, and are included in other intangible assets in the Consolidated Balance Sheets. Indefinite-lived intangibles are not subject to amortization. Instead, they are tested for impairment at least annually. The change in the balance during 2011 resulted from changes in foreign currency rates.

Amortizing intangible assets, which are included in other intangible assets in the Consolidated Balance Sheets, include the following:


(Dollars in thousands)	December 31, 2011					December 25, 2010
	Gross Carrying Value		Accumulated Amortization			Gross Carrying Value		Accumulated Amortization
Customer lists	$	43,972	$	(16,174	)	$	28,000	$	(11,773	)
Other		5,868		(3,987	)		2,600		(2,600	)

Total	$	49,840	$	(20,161	)	$	30,600	$	(14,373	)

We review our amortizing intangible assets at least annually to determine whether events and circumstances warrant a revision to the remaining period of amortization.

Amortization of intangible assets was $5.2 million in 2011, $2.9 million in 2010, and $3.1 million in 2009 (at average foreign currency exchange rates).

The weighted average amortization period for the remaining finite-lived intangible assets is 5.7 years. Estimated future amortization expense for the next five years at December 31, 2011 is as follows:


(Dollars in thousands)
2012	$	5,477
2013		5,332
2014		5,173
2015		4,706
2016		4,618

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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