Net Intangible Assets And Goodwill

12 Months Ended

Dec. 31, 2011

Net Intangible Assets And Goodwill [Abstract]

8. Net intangible assets and goodwill

Net intangible assets and goodwill consist of the following at year-end:


		2011			2010
Intangible assets (i)
Computer software cost	$	52,555		$	34,769
Initial franchise fees		15,342			11,649
Letter of credit fees		940			3,025
Total cost		68,837			49,443
Total accumulated amortization		(28,172	)		(19,720	)
Subtotal		40,665			29,723


Goodwill (ii)
Mexico		7,180			8,470
Brazil		8,892			6,287
Ecuador		273			273
Peru		208			200
St. Croix		-			2,077
Chile		1,201			234
Subtotal		17,754			17,541
	$	58,419		$	47,264

(i) Total amortization expense for fiscal years 2011, 2010 and 2009 amounted to $11,144 $6,740 and $6,915, respectively. The estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows: $11,144 for 2012; $11,144 for 2013; $11,111 for 2014; $4,933 for 2015; $1,909 for 2016 and thereafter $424.

(ii) Related to the acquisition of franchise restaurants (Mexico, Brazil, Peru, St. Croix and Chile) and non-controlling interests in subsidiaries (Ecuador and Chile).

- 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.

+ References+ Details