CarParts.com, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

Intangible Assets, Net

6 Months Ended

Jun. 28, 2014

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Note 5 –Intangible Assets, Net

Intangible assets consisted of the following at June 28, 2014 and December 28, 2013 (in thousands):


			June 28, 2014							December 28, 2013
	Useful Life		Gross Carrying Amount		Accumulated Amort. and Impairment			Net Carrying Amount		Gross Carrying Amount		Accum. Amort. and Impairment			Net Carrying Amount
Intangible assets subject to amortization:
Product design intellectual property ⁽¹⁾		4 years	$	2,750	$	(1,972	)	$	778	$	2,750	$	(1,842	)	$	908
Patent license agreements		4 - 5 years		437		(42	)		395		0		0			0
Domain and trade names		10 years		1,199		(544	)		655		1,199		(506	)		693

Total			$	4,386	$	(2,558	)	$	1,828	$	3,949	$	(2,348	)	$	1,601

⁽¹⁾	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.

Intangible assets are amortized on a straight-line basis. Amortization expense relating to intangible assets for the thirteen weeks ended June 28, 2014 and June 29, 2013 was $126 and $107, respectively. Amortization expense relating to intangible assets for the twenty-six weeks ended June 28, 2014 and June 29, 2013 was $210 and $213, respectively.

The following table summarizes the future estimated annual amortization expense for these assets over the next five years (in thousands):


2014	$	213
2015		425
2016		425
2017		295
2018		162
Thereafter		308

Total	$	1,828