Other Intangibles

9 Months Ended

Sep. 30, 2012

Other Intangibles

5. Other Intangibles:

Intangible assets are amortized over their useful lives and are subject to impairment testing. The values assigned to intangible assets in connection with the Servalite and TagWorks Acquisitions were determined through separate independent appraisals. The values assigned to intangible assets in connection with the Ook Acquisition were determined by management pending independent appraisal. The Ook intangible asset values may be adjusted by management for any changes upon completion of the independent appraisal. Other intangibles, net as of September 30, 2012 and December 31, 2011 consist of the following:

	Estimated
	Useful Life	September 30,		December 31,
	(Years)	2012		2011
Customer relationships	20	$	328,468	$	326,200
Trademarks - All Others	Indefinite		49,532		49,660
Trademarks - TagWorks	5		240		240
Patents	5-20		20,250		20,200
Quick Tag license	6		11,500		11,500
Laser Key license	5		1,250		1,250
KeyWorks license	10		4,100		4,100
Non-compete agreements	5-10		4,450		4,200
Lease agreement	0.5		240		240
Intangible assets, gross			420,030		417,590
Less: Accumulated amortization			47,807		31,388
Other intangibles, net		$	372,223	$	386,202

Intangible assets are amortized over their useful lives. The amortization expense for amortizable assets was $5,466 and $5,297 for the three month periods ended September 30, 2012 and 2011, respectively. The amortization expense for amortizable assets was $16,366 and $15,374 for the nine month periods ended September 30, 2012 and 2011, respectively. The amortization expense for amortizable assets for the year ended December 31, 2012 is estimated to be $21,749. For the years ended December 31, 2013, 2014, 2015, 2016, and 2017, the amortization expense for amortizable assets is estimated to be $21,549, $21,549, $20,888, $18,957 and $18,102, respectively.