Kontoor Brands Inc
For the period ended Dec 30, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
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Intangible Assets
NOTE 7 —INTANGIBLE ASSETS
The following tables present components of "intangible assets, net" recorded in the Company's balance sheets:
| (In thousands) · Amortization Period · Amortization Method · Cost · Accumulated Amortization · Net Carrying Amount | ||||||
|---|---|---|---|---|---|---|
| Finite-lived intangible assets: | ||||||
| Trademarks | 16 years | Straight-line | $58,132 | $50,083 | $8,049 | |
| Indefinite-lived intangible assets: | ||||||
| Trademarks and trade names | 4,448 | |||||
| Intangible assets, net | $12,497 | |||||
| (In thousands) · Amortization Period · Amortization Method · Cost · Accumulated Amortization · Net Carrying Amount | ||||||
|---|---|---|---|---|---|---|
| Finite-lived intangible assets: | ||||||
| Trademarks | 16 years | Straight-line | $58,132 | $49,077 | $9,055 | |
| Indefinite-lived intangible assets: | ||||||
| Trademarks and trade names | 4,306 | |||||
| Intangible assets, net | $13,361 | |||||
Amortization expense was $1.0 million in 2023, 2022 and 2021. Estimated amortization expense for the next five years is $1.0 million each year.
62 Kontoor Brands, Inc. 2023 Form 10-K
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