VF Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

9 Months Ended

Oct. 01, 2011

Note E — Intangible Assets


			September 2011						December 2010
	Weighted		Gross				Net		Net
	Average		Carrying		Accumulated		Carrying		Carrying
Dollars in thousands	Life		Amount		Amortization		Amount		Amount
Amortizable intangible assets:
Customer relationships		19	$	618,767	$	128,350	$	490,417	$	337,307
License agreements		24		184,105		58,570		125,535		127,741
Trademarks and other		9		16,969		6,772		10,197		4,670


Amortizable intangible assets, net								626,149		469,718

Indefinite-lived intangible assets:
Trademarks and tradenames								2,352,089		1,021,207


Intangible assets, net							$	2,978,238	$	1,490,925

Intangible assets are amortized using the following methods: customer relationships — accelerated methods; license agreements — accelerated and straight-line methods; trademarks and other — straight-line method.

Intangible assets increased from December 2010 due to the Rock and Republic^® trademarks acquisition in the first quarter of 2011 and the Timberland acquisition in the third quarter of 2011 as discussed in Note C.

Amortization of intangible assets for the third quarter and first nine months of 2011 was $9.9 million and $29.1 million, respectively, and is expected to be $41.5 million for the year ended 2011. Estimated amortization expense for the years ending 2012 through 2015 is $47.0 million, $45.0 million, $43.7 million and $42.2 million, respectively.