FairPoint Communications 2009 Annual Report Download - page 128

Table of Contents




The Company's intangible assets consist of customer lists, non-compete agreement and trade names as follows (in thousands):
The estimated weighted average useful lives of the intangible assets are 9.7 years for the customer relationships, one year for the non-compete
agreement and an indefinite useful life for trade names. Amortization expense was $22.6 million and $17.2 million for the years ended December 31,
2009 and 2008, respectively, and is expected to be approximately $22.6 million per year.

A summary of property, plant, and equipment is shown below (in thousands):
Depreciation expense, excluding amortization of intangible assets, for the years ended December 31, 2009, 2008, and 2007 was $252.7 million,
$237.8 million, and $230.0 million, respectively.
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 
    

Gross carrying amount $ 208,504 $ 208,504
Less accumulated amortization (39,501) (16,929)
Net customer lists 169,003 191,575

Gross carrying amount 358 358
Less accumulated amortization (358) (268)
Net non-compete agreement — 90

Gross carrying amount 42,816 42,816
 $ 211,819 $ 234,481
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
   
       
Land — $ 23,871 $ 23,835
Buildings and leasehold improvements 2 – 45 313,766 312,080
Central office equipment 5 – 11 2,388,216 2,337,762
Outside communications plant 15 – 50 2,908,287 2,872,207
Furniture, vehicles and other work
equipment 3 – 15 326,157 181,767
Plant under construction — 144,541 211,557
Other — 35,359 35,357
Total property, plant, and equipment 6,140,197 5,974,565
Accumulated depreciation (4,189,762) (3,961,050)
Net property, plant, and equipment $ 1,950,435 $ 2,013,515