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OTHER ASSETS, NET
 12 Months Ended
Dec. 31, 2011
OTHER ASSETS, NET  
OTHER ASSETS, NET

15 — OTHER ASSETS, NET

 

Other assets consist of deferred financing costs, which include fees, commissions and legal expenses associated with securing loan facilities and other debt offerings and amending existing loan facilities.  These costs are amortized over the life of the related debt and are included in interest expense.  As of December 31, 2011 and 2010, the Company has deferred financing fees associated with the 2007 Credit Facility, the $100 Million Term Loan Facility, the $253 Million Term Loan Facility, the debt portion of the 2010 Notes and the 2010 Baltic Trading Credit Facility.  (Refer to Note 9 — Long-Term Debt and Note 10 — Convertible Senior Notes)

 

Total net deferred financing costs consist of the following as of December 31, 2011 and 2010:

 

 

 

December
31, 2011

 

December
31, 2010

 

 

 

 

 

 

 

2007 Credit Facility

 

$

13,189

 

$

10,074

 

$100 Million Term Loan Facility

 

1,578

 

1,318

 

$253 Million Term Loan Facility

 

4,113

 

3,529

 

2010 Notes

 

3,637

 

3,637

 

2010 Baltic Trading Credit Facility

 

3,027

 

2,940

 

Total deferred financing costs

 

25,544

 

21,498

 

Less: accumulated amortization

 

7,749

 

4,561

 

Total

 

$

17,795

 

$

16,937