eTrade 2008 Annual Report Download - page 130

Other intangible assets with finite lives, which are primarily amortized on an accelerated basis, consist of
the following (dollars in thousands):
December 31, 2008 December 31, 2007
Weighted
Average
Useful
Life
(Years)
Gross
Amount
Accumulated
Amortization
Net
Amount
Weighted
Average
Useful
Life
(Years)
Gross
Amount
Accumulated
Amortization
Net
Amount
Customer list 21 $501,820 $(124,469) $377,351 21 $521,619 $(105,448) $416,171
Active accounts 10 17,004 (9,383) 7,621 7 69,023 (57,153) 11,870
Other 18 1,400 (242) 1,158 9 3,900 (1,934) 1,966
Total other intangible
assets(1) $520,224 $(134,094) $386,130 $594,542 $(164,535) $430,007
(1) Fully amortized other intangible assets not included in the table above.
Assuming no future impairments of these assets or additional acquisitions, annual amortization expense will
be as follows (dollars in thousands):
Years ending December 31,
2009 $ 29,726
2010 28,562
2011 27,451
2012 26,420
2013 25,461
Thereafter 248,510
Total future amortization expense $386,130
Amortization of other intangibles from continuing operations was $35.7 million, $40.5 million and $46.2
million for the years ended December 31, 2008, 2007 and 2006, respectively.
NOTE 12—OTHER ASSETS
Other assets consist of the following (dollars in thousands):
December 31,
2008 2007
Deferred tax asset $1,034,697 $ 550,234
Bank owned life insurance policy(1) 259,268 247,054
Accrued interest receivable 243,071 296,903
Deposit paid for securities borrowed 216,458 348,337
Reserve fund receivable(2) 146,308 —
Derivative assets 137,316 133,106
Net settlements and deposits with clearing organizations 131,409 249,065
Real estate owned and repossessed assets 108,105 45,895
Other receivables from brokers, dealers and clearing organizations 59,484 213,541
Other investments 56,022 229,207
Third party loan servicing receivable 47,933 101,571
Prepaids 35,220 36,170
Other(3) 118,313 520,763
Total other assets $2,593,604 $2,971,846
(1) Represents the cash surrender value as of December 31, 2008 and 2007, respectively.
(2) Represents the amount owed to the Company by the Fund as of December 31, 2008.
(3) Includes an income tax receivable of less than $0.1 million and $365.1 million at December 31, 2008 and 2007, respectively.
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