DIRECTV 2004 Annual Report Download - page 88

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THE DIRECTV GROUP, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (continued)
The following table sets forth the amounts recorded for intangible assets at December 31:
December 31, 2004
December 31, 2003
Estimated
Useful Lives
(years)
Gross
Amount
Accumulated
Amortization
Net
Amount
Gross
Amount
Accumulated
Amortization
Net
Amount
(Dollars in Millions)
Orbital Slots
Indefinite
$
463.0
$
30.6
$
432.4
$
463.0
$
30.6
$
432.4
72.5 WL Orbital License
4
162.6
15.1
147.5
—
—
—
Subscriber Related
2-6
1,556.8
313.9
1,242.9
220.0
198.1
21.9
Dealer Network
12
130.0
43.8
86.2
130.0
34.6
95.4
Distribution Rights
7
334.1
27.5
306.6
—
—
—
Intangible Pension Asset
—
11.5
—
11.5
18.8
—
18.8
Total Intangible Assets
$
2,658.0
$
430.9
$
2,227.1
$
831.8
$
263.3
$
568.5
Amortization expense of intangible assets was $167.6 million and $74.0 million for the years ended December 31, 2004 and
2003, respectively.
Estimated amortization expense for intangible assets in each of the next five years and thereafter is as follows: $350.5 million in
2005; $350.5 million in 2006; $350.5 million in 2007; $340.8 million in 2008; $247.8 million in 2009 and $143.1 million
thereafter.
Note 7: Investments
Investments in marketable equity and debt securities stated at current fair value and classified as available-for-sale were as
follows:
December 31,
2004
2003
(Dollars in Millions)
Marketable equity securities
$
60.2
$
486.9
Marketable debt securities
112.9
108.6
Total
$
173.1
$
595.5
At December 31, 2004 and 2003, we recorded $22.0 million and $273.9 million of accumulated unrealized gains, net of taxes,
as part of OCI, respectively.
Investments in companies accounted for under the equity method at December 31, 2004 and 2003 amounted to $31.2 million
and $4.6 million, respectively.
See Note 15 below for additional information regarding our sale of investments.
79