Cincinnati Bell 2012 Annual Report Download - page 163
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Form 10-K Part II Cincinnati Bell Inc.
Summarized below are the carrying values for the major classes of intangible assets subject to amortization:
(dollars in millions)
Weighted-
Average
Life in
Years
December 31, 2012 December 31, 2011
Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
Customer relationships
Wireline ................................ 10 $ 7.0 $ (4.9) $ 7.0 (4.2)
Wireless ................................ 9 8.7 (8.1) 8.7 (7.6)
Data Center Colocation .................... 15 129.5 (36.8) 136.6 (26.4)
IT Services and Hardware .................. 5 2.0 (2.0) 2.0 (2.0)
147.2 (51.8) 154.3 (40.2)
Trademarks
Wireless ................................ 7 6.2 (2.8) 6.2 (1.5)
Data Center Colocation .................... 15 7.4 (1.3) 7.4 (1.3)
13.6 (4.1) 13.6 (2.8)
Favorable leasehold interest
Data Center Colocation .................... 56 3.9 (0.2) 3.9 (0.1)
$164.7 $(56.1) $171.8 $(43.1)
Amortization expense for intangible assets subject to amortization was $18.6 million in 2012, $19.1 million
in 2011, and $11.6 million in 2010.
The following table presents estimated amortization expense for 2013 through 2017:
(dollars in millions)
2013 ............................................... $18.8
2014 ............................................... 18.4
2015 ............................................... 15.6
2016 ............................................... 12.4
2017 ............................................... 10.2
7. Debt and Other Financing Arrangements
The Company’s debt consists of the following:
December 31,
(dollars in millions) 2012 2011
Current portion of long-term debt:
Capital lease obligations and other debt ....................................... $ 13.4 $ 13.0
Current portion of long-term debt .......................................... 13.4 13.0
Long-term debt, less current portion:
Receivables facility ....................................................... 52.0 —
7% Senior Notes due 2015 ................................................. — 250.4
8 1/4% Senior Notes due 2017 .............................................. 500.0 500.0
8 3/4% Senior Subordinated Notes due 2018 ................................... 625.0 625.0
8 3/8% Senior Notes due 2020 .............................................. 683.9 775.0
CyrusOne 6 3/8% Senior Notes due 2022 ...................................... 525.0 —
7 1/4% Senior Notes due 2023 .............................................. 40.0 40.0
Various Cincinnati Bell Telephone notes ...................................... 134.5 207.5
Capital lease obligations and other debt ....................................... 123.1 131.4
2,683.5 2,529.3
Net unamortized discount .................................................... (7.5) (8.7)
Long-term debt, less current portion .......................................... 2,676.0 2,520.6
Total debt ................................................................. $2,689.4 $2,533.6
89
Form 10-K