Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
12 Months Ended
Dec. 31, 2011
Intangible Assets [Abstract]  
Intangible Assets

9. Intangible assets

The following table presents details of amortizable intangible assets and related accumulated amortization:

  As of December 31, 2010
  Gross Accumulated
amortization
Net
Lease premiums $ 73,673 $ (27,448 ) $ 46,225
Customer relationships—parts   19,800   (9,229 )   10,571
Customer relationships—engines   3,600   (2,516 )   1,084
FAA certificate at AeroTurbine   1,100   (343 )   757
Non-compete agreement   1,100   (1,100 )  
Net book value at end of period $ 99,273 $ (40,636 ) $ 58,637

 

  As of December 31, 2011
  Gross Accumulated
amortization
Net
Lease premiums $ 67,882 $ (38,204 ) $ 29,677
Net book value at end of period $ 67,882 $ (38,204 ) $ 29,677

 

The following table presents the changes to amortizable intangible assets during the periods indicated:

  Year ending December 31,
  2010 2011
Net carrying value at beginning of period $ 31,399   $ 58,637  
Fair value of intangibles acquired in acquisitions   42,975      
Discontinued operations       (12,412 )
Purchases of intangible lease premiums   9,006      
Amortization   (22,070 )   (15,375 )
Impairment (Note 22)   (2,673 )   (1,173 )
Net carrying value at end of period $ 58,637   $ 29,677  

 

Future amortization of the intangible assets over the terms of their useful lives is as follows:

  Amortization
of intangible
assets
2012 $ 11,578
2013   8,431
2014   6,137
2015   3,107
2016   424
Thereafter  
  $ 29,677

 

     The remaining weighted average amortization period for the amortizable intangible assets is 37 months (2010: 49 months). Please refer to Note 22 for the impairment analysis of intangible assets.