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Deferred Sales Commissions, Net
 12 Months Ended
Dec. 31, 2012
Deferred Sales Commissions, Net [Abstract]  
Deferred Sales Commissions, Net
11. Deferred Sales Commissions, Net

The components of deferred sales commissions, net for the years ended December 31, 2012 and 2011 were as follows (excluding amounts related to fully amortized deferred sales commissions):

 
 
December 31,
 
 
 
2012
 
 
2011
 
 
 
(in thousands)
 
 
 
 
 
 
 
 
Carrying amount of deferred sales commissions
 
$
758,127
 
 
$
660,735
 
Less: Accumulated amortization
 
 
(475,032
)
 
 
(434,770
)
Cumulative CDSC received
 
 
(187,665
)
 
 
(165,966
)
Deferred sales commissions, net
 
$
95,430
 
 
$
59,999
 
 
Amortization expense was $40.3 million, $37.7 million and $47.4 million for the years ended December 31, 2012, 2011 and 2010, respectively. Estimated future amortization expense related to the December 31, 2012 net asset balance, assuming no additional CDSC is received in future periods, is as follows (in thousands):

2013
 
$
39,560
 
2014
 
 
25,760
 
2015
 
 
20,179
 
2016
 
 
9,312
 
2017
 
 
541
 
2018
 
 
78
 
 
 
$
95,430