Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2011

Acquisition of Ownership Interest in Joint Ventures

Since January 1, 2009 the Company has acquired ownership interest in various brands through its investments in joint ventures. The chart below illustrates the Company’s ownership interest in these brands as of December 31, 2011:

Date Acquired/Invested	Brand	Investment /  Joint Venture	Iconix's Investment
May 2009, and April 2011	Ed Hardy	Hardy Way	85	%
October 2009	Ecko (1)	IPH Unltd	51	%
March 2010	Material Girl and Truth or Dare	MG Icon	50	%
June 2010	Peanuts	Peanuts Holdings	80	%

(1) The Zoo York brand was owned by IPH Unltd at the time of the Company’s October 2009 investment in the joint venture. In July 2011, the Company, through its wholly owned subsidiary ZY Holdings LLC (“ZY Holdings”), acquired 100% of the Zoo York brand from its IPH Unltd joint venture, thereby effectively increasing its ownership interest in the brand from 51% to 100%. See Note 3 for further details of this transaction.

Joint Ventures to Develop and Market Company's Brands

Further, since January 1, 2009 the Company established the following joint ventures to develop and market the Company’s brands in specific international markets:

Date Created	Investment / Joint Venture	Iconix's Investment
December 2009	Iconix Europe		50	%
December 2011	OP Japan		55	%

Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for FY 2011 and FY 2010 are as follows:

(in 000’s)	FY 2011		FY 2010
Beginning balance	$	192,780	$	170,737
Acquisitions		27,062		17,654
Net adjustments to purchase price of prior period acquisitions		3,427		4,389
Ending balance	$	223,269	$	192,780