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Intangible and Other Assets
12 Months Ended
Dec. 29, 2012
Intangible and Other Assets  
Intangible and Other Assets

8. Intangible and Other Assets

        Intangible and other assets consisted of the following (in thousands):

 
   
  2012   2011  
At Fiscal Year End
  Useful
Lives
  Carrying
Amount
  Accumulated
Amortization
  Carrying
Amount
  Accumulated
Amortization
 

Intangibles—subject to amortization:

                               

Trademarks

    10 yrs.   $ 4,135   $ 2,400   $ 4,121   $ 2,109  

Customer lists

    5-9 yrs.     32,144     9,980     7,636     7,274  

Patents

    3-20 yrs.     2,273     815     773     394  

Noncompete agreement

    6 yrs.     1,895     237              

Other

    7-20 yrs.     258     194     193     190  
                         

Total intangibles—subject to amortization

          40,705     13,626     12,723     9,967  

Intangibles—not subject to amortization:

                               

Trade names

          83,647           18,936        

Other assets:

                               

Key money deposits

          35,655     14,060     31,804     10,291  

Other deposits

          17,591           13,685        

Deferred compensation plan assets

          3,188           2,897        

Deferred tax asset—net

          6,536           4,875        

Restricted cash

          991           2,114        

Shop-in-shop

          11,396     5,297     6,965     3,433  

Other

          3,948     1     3,903     315  
                         

Total other assets

          79,305     19,358     66,243     14,039  
                         

Total intangible and other assets

        $ 203,657   $ 32,984   $ 97,902   $ 24,006  
                         

Total intangible and other assets—net

              $ 170,673         $ 73,896  
                             

        Key money is the amount of funds paid to a landlord or tenant to acquire the rights of tenancy under a commercial property lease for a certain property. Key money represents the "right to lease" with an automatic right of renewal. This right can be subsequently sold by the Company or can be recovered should the landlord refuse to allow the automatic right of renewal to be exercised. Key money is amortized over the initial lease term, which ranges from approximately four to 18 years.

        Amortization expense for intangible assets was approximately $3.5 million, $0.9 million and $1.4 million for fiscal years 2012, 2011 and 2010, respectively. Estimated aggregate future amortization expense by fiscal year for intangible assets is as follows (in thousands):

Fiscal Year
  Amortization
Expense
 

2013

  $ 4,125  

2014

    4,053  

2015

    3,661  

2016

    3,522  

2017

    3,263  

        As noted in Note 1—Significant Accounting Policies, the Company performed its annual impairment test of certain trade names. At December 29, 2012, the estimated fair value of the Company's MICHELE, ZODIAC, and SKAGEN trade names exceeded the carrying cost of these indefinite-lived intangible assets. Therefore, no impairment charges were recorded. The MICHELE and ZODIAC trade names were tested in fiscal year 2011 for annual impairment, and no impairment was recorded. During fiscal year 2010, the Company's annual impairment analysis resulted in net of tax impairment charges of $837,000 and $789,000 to the OYZTERBAY and ZODIAC trade names, respectively. The impairment charges for the OYZTERBAY trade name reduced the carrying value to zero. The ZODIAC trade name is reported within the Europe wholesale segment.