as indefinite lived assets; (ii) an entry to reduce intangible assets and retained earnings by approximately $ 8 . 8  million to  reflect a reduction in the carrying amount of the marketing rights previously purchased from a group of controlling share- holders to its carryover basis; and (iii) an entry to reclassify approximately $ 7 . 4  million from goodwill to distributor network  and trade names and trademarks to retroactively reflect intangible assets acquired.  As a result of these changes the Company recorded an additional $ 0 . 9  million of amortization related to these assets  through the remainder of  2004  and will continue to recognize an additional $ 1 . 2  million of such amortization per year  through the remainder of the useful lives, which approximate  11  years as of December  31 ,  2004 . Goodwill and indefinite life intangible assets are not amortized, rather they are subject to annual impairment tests.  Annual impairment tests were completed resulting in no impairment charges for any of the periods shown. Finite life in- tangibles are amortized over their useful lives unless circumstances occur that cause the Company to revise such lives or  review such assets for impairment. 6 . OTHER ASSETS Other assets consist of the following: December  31 , 2003 2004 (U.S. dollars in thousands) Deferred taxes $  32 , 936 $  34 , 856 Deposits for noncancelable operating leases 15 , 912 11 , 636 Deposit for customs assessment (Note  19 ) — 11,820 Other 14 , 220 15 , 114 $  63 , 068 $  73 , 426 December  31 , 2003 2004 (U.S. dollars in thousands) Accrued commission payments to distributors $  39 , 405 $  43 , 845 Income taxes payable 7 , 792 6 , 612 Other taxes payable 8 , 916 5 , 521 Accrued payroll and payroll taxes 14 , 618 11 , 435 Accrued contingent payable (Note  20 ) — 8,217 Other accruals 24 , 337 31,596 $  95 , 068 $  107,226 7 . ACCRUED EXPENSES Accrued expenses consist of the following: The Company maintains a $ 25 . 0  million revolving credit facility that expires in May  2007 . Drawings on this revolving  credit facility may be used for working capital, capital expenditures and other purposes including repurchases of the  Company’s outstanding shares of Class A common stock. As of December  31 ,  2004 , there were no outstanding balances  under this revolving credit facility.  The Company also has a $ 125 . 0  million multi-currency private uncommitted shelf facility with Prudential Investment  Management, Inc. As of December  31 ,  2004 , we had $ 70 . 0  million outstanding under our shelf facility, $ 5 . 0  million of  which is included in the current portion of long-term debt. This long-term debt is U.S. dollar denominated, bears interest  of approximately  4 . 5 % per annum and is amortized in two tranches over five and seven years. The Company’s long-term  debt also includes the long-term portion of Japanese yen denominated ten-year senior notes issued to the Prudential Insur- ance Company of America in  2000 . The notes bear interest at an effective rate of  3 . 0 % per annum and are due October  2010 , with annual principal payments that began in October  2004 . As of December  31 ,  2004 , the outstanding balance on  the notes was  8 . 3  billion Japanese yen, or $ 81 . 2  million, $ 13 . 5  million of which is included in the current portion of long- term debt. The Japanese notes and the revolving and shelf credit facilities are secured by guarantees issued by our mate- rial subsidiaries or by pledges of  65 % to  100 % of the outstanding stock of our material subsidiaries. 62 8 . LONG-TERM DEBT