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Other Assets
12 Months Ended
Dec. 31, 2012
Other Assets [Abstract]  
Other Assets

8. Other Assets

       

Other assets are summarized as follows:

   December 31, December 31,
   2012 2011
Intangible assets      
Patents  $2.0 $ 2.0
Favorable leasehold interests   9.7  9.7
Customer relationships   28.1  26.8
 Total intangible assets   39.8  38.5
Less: Accumulated amortization-patents   (1.2)  (1.1)
 Accumulated amortization-favorable leasehold interest   (4.8)  (4.2)
 Accumulated amortization-customer relationships   (23.7)  (19.3)
Intangible assets, net   10.1  13.9
Deferred financing      
Deferred financing costs  76.4  64.0
Less: Accumulated amortization-deferred financing costs  (49.6)  (35.0)
Deferred financing costs, net  26.8  29.0
Other       
Fair value of derivative instruments    -  0.6
Goodwill - Europe  3.0  2.9
Equity in net assets of affiliates   5.1  4.5
Customer supply agreement (1)  39.9   39.8
Other   6.1  5.7
 Total  $ 91.0 $ 96.4
_____________________________      

  • Under an agreement with our customer Airbus, certain payments accounted for as consideration given by the Company to Airbus are being amortized as a reduction to net revenues.

 

The Company recognized $4.1, $4.2 and $4.1 of amortization expense of intangibles for the twelve months ended December 31, 2012, December 31, 2011 and December 31, 2010, respectively.

Estimated amortization expense associated with the Company's amortizable intangible assets for each of the next five years is as follows:

2013$4.2
2014$1.6
2015$0.7
2016$0.7
2017$0.7

The following is a roll forward of the carrying amount of goodwill at December 31, 2012:

   2012  2011
Balance, January 1 $ 2.9 $ 2.9
Goodwill acquired    -   -
Exchange rate   0.1   -
Balance, December 31 $ 3.0 $ 2.9