Trademarks and Other Intangibles, net

9 Months Ended

Sep. 30, 2012

Trademarks and Other Intangibles, net

2. Trademarks and Other Intangibles, net

Trademarks and other intangibles, net consist of the following:

		September 30, 2012				December 31, 2011
(000’s omitted)	Estimated  Lives in Years	Gross     Carrying      Amount		Accumulated   Amortization		Gross     Carrying      Amount		Accumulated   Amortization
Indefinite life trademarks and copyrights	Indefinite	$	1,523,809	$	-	$	1,528,362	$	-
Definite life trademarks	10-15		19,603		7,714		19,603		6,623
Non-compete agreements	2-15		10,475		10,475		10,475		10,325
Licensing agreements	1-9		32,428		25,756		32,428		22,924
		$	1,586,315	$	43,945	$	1,590,868	$	39,872
Trademarks and other intangibles, net				$	1,542,370			$	1,550,996

Amortization expense for intangible assets for the Current Quarter and for the three months ended September 30, 2011 (the “Prior Year Quarter”) was $1.3 million and $1.7 million, respectively. Amortization expense for intangible assets for the Current Nine Months and for the nine months ended September 30, 2011 (the “Prior Year Nine Months”) was $4.1 million and $5.3 million, respectively. The trademarks of Candie’s, Bongo, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific, Danskin, Rocawear, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Ecko, Zoo York, Peanuts, Ed Hardy and Sharper Image have been determined to have an indefinite useful life and accordingly, consistent with ASC Topic 350, no amortization has been recorded in the Company’s consolidated income statements. Instead, each of these intangible assets are tested for impairment at least annually on an individual basis as separate single units of accounting, with any related impairment charge recorded to the statement of operations at the time of determining such impairment. Consistent with ASC Topic 360, there was no impairment of the definite-lived trademarks in the Current Nine Months or the Prior Year Nine Months.