Delta Airlines 2012 Annual Report Download - page 77

The 132 slot pairs at LaGuardia acquired in 2011 were recorded at fair value. We estimated their fair value using a combination of limited market
transactions and the lease savings method, which is an income approach. These assets are classified in Level 3 of the fair value hierarchy. The
carrying value related to the 42 slot pairs at Reagan National acquired by US Airways was removed from our indefinite-lived intangible assets. In
approving the transaction, the Department of Transportation restricted our use of the exchanged slots. We recorded a $78 million gain in December
2011. We recognized this deferred gain in 2012 as the restrictions lapsed.
Definite
-Lived Intangible Assets
Amortization expense for each of the years ended December 31, 2012 , 2011 and 2010 was approximately $70 million
. The following table
summarizes the estimated aggregate amortization expense for each of the five succeeding fiscal years:
70
December 31, 2012 December 31, 2011
(in millions)
Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
Marketing agreements
$
730
$
(545
)
$
730
$
(486
)
Contracts
193
(72
)
193
(61
)
Other
53
(53
)
53
(53
)
Total
$
976
$
(670
)
$
976
$
(600
)
Years Ending December 31,
(in millions)
2013
$
68
2014
67
2015
67
2016
9
2017
9