Cash America 2011 Annual Report Download - page 135
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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
104
Acquired Intangible Assets
Acquired intangible assets that are subject to amortization as of December 31, 2011 and 2010, were as follows
(dollars in thousands):
As of December 31,
2011 2010
Accumulated Accumulated
Cost Amortization Net Cost Amortization Net
N
on-competition agreements $ 21,364 $ (13,537) $ 7,827 $ 18,263 $ (11,372) $ 6,891
Customer relationships 26,607 (17,297) 9,310 20,304 (14,485) 5,819
Lead provider relationships 2,489 (2,489) - 2,489 (1,939) 550
Trademarks 211 (199) 12 210 (183) 27
Other 576 (300) 276 496 (253) 243
Total $ 51,247 $ (33,822) $ 17,425 $ 41,762 $ (28,232) $ 13,530
Non-competition agreements are amortized over the applicable terms of the contract. Customer and lead
provider relationships are generally amortized on a straight-line basis over three to ten years, based on the period over
which economic benefits are provided. Trademarks are amortized generally over three years on a straight-line basis.
Amortization
Amortization expense for acquired intangible assets was $6.3 million, $4.8 million and $6.0 million for the
years ended December 31, 2011, 2010 and 2009, respectively.
Estimated future amortization expense for the years ended December 31, is as follows (dollars in thousands):
Year Amount
2012 $4,318
2013 3,735
2014 2,517
2015 2,367
2016 1,826
Indefinite Lived Intangible Assets
At December 31, 2011 and 2010, licenses of $9.7 million obtained in conjunction with acquisitions were not
amortized. As of December 31, 2011 and 2010, trademarks of $7.7 million and $8.0 million, respectively, obtained in
conjunction with acquisitions were not amortized. Costs to renew licenses with indefinite lives are recorded in
“Administration expenses” in the consolidated statements of income.