Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2011

2. Goodwill and Intangible Assets

On September 26, 2011, we acquired certain assets of Timco Worldwide, a leading melon category provider in Davis, California. The results of Timco’s operations are not expected to be material to the consolidated financial statements. We recorded $2.4 million of goodwill and other intangible assets related to this acquisition.

The change in the carrying amount of goodwill is as follows (in thousands):


Balance December 31, 2010	$	359,116
Acquisitions		2,009
Foreign currency translation		(917	)

Balance September 30, 2011	$	360,208

A summary of our other intangible assets, with finite lives, which include primarily non-competition agreements and customer relationships, is as follows (in thousands):


	September 30, 2011			December 31, 2010
Gross	$	19,275		$	25,569
Accumulated amortization		(10,192	)		(13,874	)

Net	$	9,083		$	11,695

Other intangible assets, with indefinite lives, are as follows (in thousands):


	September 30, 2011		December 31, 2010
Trademarks	$	1,850	$	1,800

Amortization expense for other intangible assets is as follows (in thousands):


	Three Months Ended September 30,
	2011		2010
Amortization expense	$	903	$	1,113


	Nine Months Ended September 30,
	2011		2010
Amortization expense	$	3,024	$	3,854

Estimated amortization expense for each of the five succeeding fiscal years based on the intangible assets at September 30, 2011 is as follows (in thousands):


Remainder of 2011	$	897
2012		3,204
2013		3,001
2014		1,860
2015		70
Thereafter		51

Total	$	9,083

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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