Intangible Assets

6 Months Ended

Jun. 30, 2012

Intangible Assets [Abstract]

Intangible Assets

11. Intangible Assets

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

	Weighted Average Remaining	June 30, 2012						December 31, 2011
	Amortization Period (Years)	Gross Amount			Accumulated Amortization			Gross Amount		Accumulated Amortization
Internally developed software and technology	1	$	59,027		$	(58,409	)	$	59,027	$	(57,173	)
Trade names	13		9,200			(3,105	)		9,200		(2,875	)
			68,227			(61,514	)		68,227		(60,048	)
Intangible assets, net, classified as assets held for sale			(68,227	)		61,514			—		—
Intangible assets, net, as reported		$	—		$	—			68,227	$	(60,048	)

Total amortization expense for intangible assets, included in income from discontinued operations was $0.7 million and $0.7 million for the three months ended June 30, 2012 and 2011, respectively, and $1.5 million and $1.5 million for the six months ended June 30, 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):

	June 30, 2012			December 31, 2011
Gross fair value adjustments	$	(36,896	)	$	(36,896	)
Accumulated amortization		21,230			20,255
		(15,666	)		(16,641	)
Fair value adjustments, net classified as (assets) liabilities held for sale		15,666			—
Fair value adjustments, net, as reported	$	—		$	(16,641	)

Net amortization of these fair value adjustments, included in income from discontinued operations, was a credit to expense of $0.4 million and $0.3 million for the three months ended June 30, 2012 and 2011, respectively, and $1.0 million and $0.4 million for the six months ended June 30, 2012 and 2011, respectively.

All amortization expense related to intangible assets has been classified as income from discontinued operations for the three and six months ended June 30, 2012 and 2011.