Mercury Insurance 2011 Annual Report Download - page 107
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MERCURY GENERAL CORPORATION AND SUBSIDIARIES
NOTES STATEMENTS TO CONSOLIDATED FINANCIAL—(Continued)
Intangible assets are amortized on a straight-line basis over their useful lives. Intangible assets amortization
expenses were $6.4 million, $6.8 million, and $6.8 million during 2011, 2010, and 2009, respectively. None of
the intangible assets are anticipated to have a residual value. The following table presents the estimated future
amortization expense related to intangible assets as of December 31, 2011:
Year Ending December 31, Amortization Expense
(Amounts in thousands)
2012 ........................................................... $ 6,160
2013 ........................................................... 5,986
2014 ........................................................... 5,980
2015 ........................................................... 5,980
2016 ........................................................... 5,980
Thereafter ....................................................... 23,663
Total ....................................................... $53,749
10. Income Taxes
Income tax provision
The Company and its subsidiaries file a consolidated federal income tax return. The provision for income
tax expense consists of the following components:
Year Ended December 31,
2011 2010 2009
(Amounts in thousands)
Federal
Current ...................................................... $31,390 $23,699 $ 31,676
Deferred ..................................................... 20,518 9,964 131,839
$51,908 $33,663 $163,515
State
Current ...................................................... $ 2,934 $ (3,225) $ 1,793
Deferred ..................................................... (907) (246) 3,161
$ 2,027 $ (3,471) $ 4,954
Total
Current ...................................................... $34,324 $20,474 $ 33,469
Deferred ..................................................... 19,611 9,718 135,000
Total ........................................................ $53,935 $30,192 $168,469
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