| Summary of intangible assets |
Intangible assets consisted of the following at
June 29, 2013 and December 29, 2012:
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June 29, 2013 |
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December 29, 2012 |
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Useful Life |
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Gross
Carrying
Amount |
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Accumulated
Amort. and
Impairment |
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Net
Carrying
Amount |
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Gross
Carrying
Amount |
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Accum.
Amort. and
Impairment |
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Net
Carrying
Amount |
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Intangible assets subject to amortization:
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Websites
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5 years |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
2,035 |
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$ |
(2,035 |
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$ |
— |
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Internet platform intellectual property
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10 months |
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— |
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— |
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— |
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4,300 |
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(4,300 |
) |
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— |
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Product design intellectual property
(1)
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4 years |
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2,750 |
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(1,713 |
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1,037 |
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2,750 |
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(722 |
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2,028 |
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Customer relationships
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4 years |
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— |
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— |
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— |
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2,050 |
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(2,050 |
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— |
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Assembled workforce
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7 years |
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— |
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— |
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— |
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512 |
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(512 |
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— |
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Favorable lease
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2.5 years |
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— |
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— |
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— |
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78 |
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(78 |
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— |
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Domain and trade names
(
2
)
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10 years |
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1,199 |
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(467 |
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732 |
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5,067 |
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(3,868 |
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1,199 |
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Total
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$ |
3,949 |
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$ |
(2,180 |
) |
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$ |
1,769 |
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$ |
16,792 |
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$ |
(13,565 |
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$ |
3,227 |
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(1)
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During the second quarter of 2013, based on the impairment analysis, the Company changed its estimated useful life for product design and intellectual
property from 9 years to 4 years.
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(
2
)
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Prior to the fourth quarter of 2012, domain and trade names had an indefinite useful life. During the fourth quarter of 2012, after an impairment
charge was recognized, the gross carrying amount was based on the fair value of the domain and trade names and the Company determined an estimated useful life of 10 years.
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