| Intangible Assets |
Note F —
Intangible Assets
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Weighted |
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Average |
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Net |
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Amortization |
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Accumulated |
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Carrying |
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Period |
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Cost |
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Amortization |
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Amount |
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| |
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Dollars in
thousands |
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|
December
2012
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Amortizable intangible
assets:
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Customer
relationships
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19 years |
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|
$ |
615,782 |
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$ |
173,336 |
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|
$ |
442,446 |
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License
agreements
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24 years |
|
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|
183,854 |
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|
68,112 |
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|
|
115,742 |
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Trademarks and
other
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8 years |
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15,944 |
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|
7,196 |
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8,748 |
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Amortizable intangible
assets, net
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566,936 |
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Indefinite-lived intangible
assets:
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Trademarks and trade
names
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2,350,122 |
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Intangible assets,
net
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$ |
2,917,058 |
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| |
|
Weighted |
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| |
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Average |
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Net |
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| |
|
Amortization |
|
|
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|
|
Accumulated |
|
|
Carrying |
|
| |
|
Period |
|
|
Cost |
|
|
Amortization |
|
|
Amount |
|
| |
|
Dollars in
thousands |
|
|
December
2011
|
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|
|
|
|
|
|
|
|
Amortizable intangible
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer
relationships
|
|
|
19 years |
|
|
$ |
615,900 |
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|
$ |
138,083 |
|
|
$ |
477,817 |
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License
agreements
|
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|
24 years |
|
|
|
183,704 |
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|
59,465 |
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|
124,239 |
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Trademarks and
other
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|
8 years |
|
|
|
19,364 |
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|
7,430 |
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|
11,934 |
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Amortizable intangible
assets, net
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|
613,990 |
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Indefinite-lived intangible
assets:
|
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|
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|
|
|
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Trademarks and trade
names
|
|
|
|
|
|
|
|
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|
|
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2,344,473 |
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Intangible assets,
net
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$ |
2,958,463 |
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Intangible
assets are amortized using the following methods: customer
relationships — accelerated methods; license
agreements — accelerated and straight-line methods;
trademarks and other — straight-line method.
Amortization expense was $47.9 million in 2012, $41.7 million in
2011 and $39.4 million in 2010. Estimated amortization expense for
the years 2013 through 2017 is $45.7 million, $44.1 million, $42.1
million, $40.8 million and $39.5 million, respectively.
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