Cabela's 2013 Annual Report Download - page 115

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105
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
Revenues included in Corporate Overhead and Other are primarily made up of amounts received from
outfitter services, real estate rental income, land sales, and fees earned through the Company’s travel business
and other complementary business services. Corporate Overhead and Other expenses include unallocated shared-
service costs, operations of various ancillary subsidiaries such as real estate development and travel, and segment
eliminations. Unallocated shared-service costs include receiving, distribution, and storage costs of inventory,
merchandising, and quality assurance costs, as well as corporate headquarters occupancy costs.
Segment assets are those directly used in or clearly allocable to an operating segment’s operations. For the
Retail segment, assets include inventory in the retail stores, land, buildings, fixtures, and leasehold improvements.
Goodwill totaling $3,295 and $3,535 at December 28, 2013, and December 29, 2012, respectively, was included
in the Retail segment. The change in the carrying value of goodwill between years was due to foreign currency
adjustments. For the Direct segment, assets primarily include fixed assets and deferred catalog costs. Assets for the
Financial Services segment include cash, credit card loans, restricted cash, receivables, fixtures, and other assets.
Cash and cash equivalents of the Financial Services segment were $94,112 and $91,365 at December 28, 2013,
and December 29, 2012, respectively. Assets for the Corporate Overhead and Other segment include corporate
headquarters and facilities, merchandise distribution inventory, shared technology infrastructure and related
information technology systems, corporate cash and cash equivalents, economic development bonds, prepaid
expenses, deferred income taxes, and other corporate long-lived assets. Depreciation, amortization, and property
and equipment expenditures are recognized in each respective segment. Intercompany revenue between segments
was eliminated in consolidation.
Under an Intercompany Agreement, the Financial Services segment pays to the Retail and Direct segments
a fixed license fee equal to 70 basis points on all originated charge volume of the Cabela’s CLUB Visa credit card
portfolio. In addition, among other items, the agreement requires the Financial Services segment to reimburse the
Retail and Direct segments for certain operating and promotional costs.