XML 106 R37.htm IDEA: XBRL DOCUMENT v2.4.0.8
Goodwill and Identifiable Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2013
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Acquired Intangible Assets

The Company’s acquired intangible assets are summarized as follows (in thousands):

 

     As of June 30, 2013      As of December 31, 2012  
     Gross
Carrying
Amount		      Accumulated
Amortization		     Net Carrying
Amount		      Gross
Carrying
Amount		      Accumulated
Amortization		     Net Carrying
Amount		  

Intangible assets subject to amortization:

                

Trade name and other

    $ 2,060       $ (126 )    $ 1,934       $ 570       $ (83 )    $ 487   

Intangible assets not subject to amortization:

                

Goodwill – portfolio purchasing and recovery

         $ 74,398            $ 6,047   

Goodwill – tax lien business

           45,390              49,399   

Other intangibles

           1,900              —     
       

 

 

          

 

 

  
        $ 121,688            $ 55,446   
       

 

 

          

 

 

  
Schedule of Changes in Carrying Amount of Goodwill by Reporting Unit

The changes in carrying amount of goodwill by reporting unit for the six months ended June 30, 2013 are as follows (in thousands):

 

      Portfolio Purchasing 
and Recovery		        Tax Lien business    

Balance, December 31, 2012

     $ 6,047            $ 49,399        

Goodwill acquired

      68,351             —         

Goodwill adjustment(1)

      —              (4,009)       
  

 

 

     

 

 

  

Balance, June 30, 2013

     $ 74,398            $ 45,390        
  

 

 

     

 

 

  

 

(1) 

As a result of its final valuation study related to the Company’s acquisition of Propel, during the three months ended March 31, 2013, the Company made an adjustment to the initial purchase price allocation, increasing receivables secured by tax liens and decreasing goodwill by approximately $4.0 million.