SkyWest Airlines 2006 Annual Report Download - page 65

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59
of approximately $33.7 million relating to the acquisition of ASA. The intangible is being amortized over
fifteen years using the straight-line method.
(3) Long-term Debt
Long-term debt consisted of thefollowing as of December 31,2006 and 2005 (in thousands):
December 31,December 31,
2006 2005
Notespayable to banks, due in semi-annual installments,
v
ariable
interest basedonLIBOR, or with interest rates ranging from
4.16% to 7.18% through 2012to2020, secured by aircraft.....$623,071 $666,758
Notespayable to a financing company, due in semi-annual
installments, variable interest basedonLIBOR, or with
interest rates ranging from 4.83% to 8.33% through 2007 to
2021, securedby aircraft..................................643,826 643,831
Notespayable to banks, due in semi-annual installments plus
interestat 6.06% to 7.18% through 2021, secured by
aircraft................................................. 281,999 297,624
Notespayable to a financing company, due in semi-annual
installments plus interest at 5.78%to 6.23% through 2019,
secured by aircraft .......................................86,375 93,327
Notes payable to banks, due in monthly installments plus
interest of 6.86% to 7.38% through2025, secured by
aircraft................................................. 101,254 —
Notespayable to banks, due in semi-annual installments, plus
interest at 6.05% to 7.38%, net of the benefits of interest .....29,545 31,406
Notespayable to banks, due in semi-annual installments, plus
interest at 3.72% to 3.86%, net of the benefits of interest rate
subsidies through the Brazilian Export financing program,
through2011, secured by aircraft .......................... 11,10513,546
Notes payable to a bank, due in monthly installments interest
based on LIBOR through 2012, interest rate at 7.9% secured
by building..............................................6,956 7,411
Long-term debt ........................................... $1,784,131 $1,753,903
Less currentmaturities..................................... (108,505) (331,145)
Long-term debt,net of currentmaturities. .................... $1,675,626 $1,422,758
At December31, 2006, the three-month and six-month LIBOR rates were 5.36% and 5.37%,
respectively.