eTrade 2007 Annual Report Download - page 119
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As part of the Company’s purchase of RAA in 2006, the Company assigned $9.5 million to intangible assets
with finite lives, of which $9.2 million was assigned to the customer list intangible asset class.
Assuming no future impairments of these assets or additional acquisitions, annual amortization expense will
be as follows (dollars in thousands):
Years ending December 31,
2008 $ 35,689
2009 31,378
2010 29,232
2011 28,077
2012 27,005
Thereafter 278,626
Total future amortization expense $430,007
Amortization of other intangibles was $40.5 million, $46.2 million and $43.8 million for the years ended
December 31, 2007, 2006 and 2005, respectively.
NOTE 11—OTHER ASSETS
Other assets consist of the following (dollars in thousands):
December 31,
2007 2006
Deferred tax asset $ 550,234 $ —
Income tax receivable 365,069 —
Deposit paid for securities borrowed 348,337 448,047
Accrued interest receivable 296,903 182,265
Net settlements and deposits with clearing organizations 249,065 137,571
Bank owned life insurance policy(1) 247,054 —
Other investments 229,207 138,006
Other receivables from brokers, dealers and clearing organizations 213,541 72,596
Derivative assets 133,106 208,136
Third party loan servicing receivable 101,571 241,511
Fails to deliver 84,015 86,517
Real estate owned and repossessed assets 45,895 12,904
Prepaids 36,170 41,216
Deferred compensation plan 21,752 20,584
Other 49,927 207,628
Total other assets $2,971,846 $1,796,981
(1) Amount represents the cash surrender value as of December 31, 2007.
Other Investments
The Company has made investments in low income housing tax credit partnerships, venture funds and
several non-public, venture capital-backed, high technology companies. As of December 31, 2007, the Company
had $25.6 million in commitments to fund low income housing tax credit partnerships, venture funds and joint
ventures.
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