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

Other Intangibles, Net

v3.3.1.900
Other Intangibles, Net
12 Months Ended
Dec. 31, 2015
Other Intangibles, Net [Abstract]  
Other Intangibles, Net

9.  Other intangibles, net

Other intangibles consisted of the following as of December 31, 2015 and 2014:

 

 

 

 

 

 

 

 

As of December 31,

 

2015

 

2014

Goodwill

$

58,094 

 

$

58,094 

Customer relationships

 

325,471 

 

 

346,647 

Contractual vendor intangible assets

 

38,775 

 

 

47,580 

Tradename and other intangible assets

 

38,666 

 

 

71,388 

 

$

461,006 

 

$

523,709 

 

The following tables present details of customer relationships and tradename and other intangible assets and related accumulated amortization as of December 31, 2015 and 2014:

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2015

 

Gross carrying amount

 

Accumulated
amortization

 

Net carrying amount

Customer relationships

$

360,000 

 

$

(34,529)

 

$

325,471 

Tradename and other intangible assets

 

56,465 

 

 

(17,799)

 

 

38,666 

 

$

416,465 

 

$

(52,328)

 

$

364,137 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2014

 

Gross carrying amount

 

Accumulated
amortization

 

Net carrying amount

Customer relationships

$

360,000 

 

$

(13,353)

 

$

346,647 

Tradename and other intangible assets

 

79,365 

 

 

(7,977)

 

 

71,388 

 

$

439,365 

 

$

(21,330)

 

$

418,035 

 

During the years ended December 31, 2015, 2014 and 2013, we recorded amortization expense for customer relationships and tradename and other intangible assets of $33.7 million, $21.3 million and nil, respectively.

 

During the year ended December 31, 2015, we recognized impairment charges of $24.8 million of tradename and other intangible assets related to the downsizing of AeroTurbine. The amount was recorded in transaction, integration and restructuring related expenses in our Consolidated Income Statement. Please refer to Note 25—AeroTurbine restructuring for further details.

 

During the year ended December 31, 2015, we utilized $8.8 million of contractual vendor intangible assets to reduce the cash outlay related to purchases of goods and services from our vendors.

 

As of December 31, 2015, the estimated future amortization expense for customer relationships and tradename and other intangible assets was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated amortization expense

2016

$

32,092 

2017

 

32,092 

2018

 

25,786 

2019

 

22,092 

2020

 

22,092 

Thereafter

 

229,983 

 

$

364,137