Intangible Assets

3 Months Ended

Mar. 31, 2012

Intangible Assets [Abstract]

Intangible Assets

10. Intangible Assets

Intangible Assets were established in connection with our adoption of fresh-start accounting and consist of (in thousands):

	Weighted Average Remaining	March 31, 2012					December 31, 2011
	Amortization Period (Years)	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
Internally developed software and technology	1	$	59,027	$	(57,791	)	$	59,027	$	(57,173	)
Trade names	14		9,200		(2,990	)		9,200		(2,875	)
		$	68,227	$	(60,781	)	$	68,227	$	(60,048	)

Total amortization expense for intangible assets was $0.7 million for the three months ended March 31, 2012 and 2011, respectively. Annual amortization expense for intangible assets for the five years ending December 31, 2016 is estimated to be as follows (in thousands):

2012	$	2,314
2013		460
2014		460
2015		460
2016		460

The following summarizes fair value adjustments made in connection with our adoption of fresh start accounting related to contracts-in-process, long-term receivables, customer advances and billings in excess of costs and profits and long-term liabilities (in thousands):

	March 31, 2012			December 31, 2011
Gross fair value adjustments	$	(36,896	)	$	(36,896	)
Accumulated amortization		20,841			20,255
	$	(16,055	)	$	(16,641	)

Net amortization of these fair value adjustments was a credit to expense of $0.6 million and $0.2 million for the three months ended March 31, 2012 and 2011, respectively.