NetSpend 2014 Annual Report Download - page 59

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2013
(in thousands) Gross Accumulated
Amortization Net
Channel relationships ............................................. $318,600 (20,261) $298,339
Customer relationships ............................................ 167,871 (69,114) 98,757
Trade name ..................................................... 46,561 (6,527) 40,034
Database ....................................................... 28,000 (2,800) 25,200
Covenants-not-to-compete ........................................ 14,940 (2,887) 12,053
Trade association ................................................. 10,000 (3,750) 6,250
Favorable lease .................................................. 875 (89) 786
Total ....................................................... $586,847 (105,428) $481,419
Amortization related to other intangible assets, which is recorded in selling, general and administrative expenses,
was $77.3 million, $50.0 million and $16.6 million for 2014, 2013 and 2012, respectively.
The weighted average useful life for each component of other intangible assets, and in total, as of December 31,
2014 is as follows:
Weighted
Average
Amortization
Period (Yrs)
Channel relationships ................................................................. 8.0
Customer relationships ................................................................ 8.2
Trade name ......................................................................... 4.9
Database ........................................................................... 5.0
Covenants-not-to-compete ............................................................ 5.3
Trade association .................................................................... 10.0
Favorable Lease ..................................................................... 4.9
Total ........................................................................... 7.6
Estimated future amortization expense of other intangible assets as of December 31, 2014 for the next five years
is:
(in thousands)
2015 .................................................................................. $75,770
2016 .................................................................................. 75,213
2017 .................................................................................. 74,823
2018 .................................................................................. 60,166
2019 .................................................................................. 47,870
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