Quest Diagnostics 2010 Annual Report Download - page 86

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Intangible assets at December 31, 2010 and 2009 consisted of the following:
Cost
Accumulated
Amortization Net Cost
Accumulated
Amortization Net
Weighted
Average
Amortization
Period December 31, 2010 December 31, 2009
Amortizing intangible assets:
Customer-related
intangibles . .... 19 years $ 603,203 $(161,345) $441,858 $ 600,460 $(129,994) $470,466
Non-compete
agreements. .... 5 years 54,886 (52,134) 2,752 54,854 (50,252) 4,602
Other ............ 11 years 75,895 (26,176) 49,719 68,896 (18,867) 50,029
Total ........ 18 years 733,984 (239,655) 494,329 724,210 (199,113) 525,097
Intangible assets not subject to
amortization:
Tradenames . . .... 302,076 — 302,076 298,568 — 298,568
Total
intangible
assets . .... $1,036,060 $(239,655) $796,405 $1,022,778 $(199,113) $823,665
Amortization expense related to intangible assets was $39.2 million, $37.1 million and $37.3 million for the
years ended December 31, 2010, 2009 and 2008, respectively.
The estimated amortization expense related to amortizable intangible assets for each of the five succeeding
fiscal years and thereafter as of December 31, 2010 is as follows:
Fiscal Year Ending
December 31,
2011.............................................................. $ 40,731
2012.............................................................. 39,092
2013.............................................................. 37,195
2014.............................................................. 36,604
2015.............................................................. 36,017
Thereafter. . . ...................................................... 304,690
Total. . . ...................................................... $494,329
9. ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts payable and accrued expenses at December 31, 2010 and 2009 consisted of the following:
2010 2009
Trade accounts payable ....................................................... $212,494 $207,327
Accrued wages and benefits ................................................... 298,842 349,252
Accrued expenses ............................................................. 337,069 322,676
Accrued settlement reserves ................................................... 16,867 9,450
Total .................................................................... $865,272 $888,705
F-20
QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(dollars in thousands unless otherwise indicated)