Goodwill and Intangibles

3 Months Ended

12 Months Ended

Mar. 31, 2013

Dec. 31, 2012

2. Goodwill and Intangibles

Effective April 1, 2013, the Company changed its basis of presentation from two to four segments. For more information on this realignment, see Note 14. “Business Segments.” The changes in the carrying amount of goodwill by reportable operating segment for the three months ended March 31, 2013 are summarized as follows:


	North America			Europe			South America		Asia Pacific		Total
Balance at January 1, 2013	$	115,420		$	13,836		$	—	$	4,460	$	133,716
Foreign exchange translation		(101	)		(384	)				11		(474	)

Balance at March 31, 2013	$	115,319		$	13,452		$	—	$	4,471	$	133,242

The following table presents intangible assets and accumulated amortization balances of the Company as of December 31, 2012 and March 31, 2013, respectively:


	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Useful Life (Years)
Customer relationships	$	135,741	$	(34,184	)	$	101,557		7.7
Developed technology		9,574		(4,143	)		5,431		3.9
Other		10,337		(601	)		9,736

Balance at December 31, 2012	$	155,652	$	(38,928	)	$	116,724		7.1

Customer relationships	$	136,115	$	(37,637	)	$	98,478		7.4
Developed technology		9,461		(4,491	)		4,970		3.7
Other		10,434		(731	)		9,703

Balance at March 31, 2013	$	156,010	$	(42,859	)	$	113,151		6.9

Amortization expense totaled $3,833 and $3,891 for the three months ended March 31, 2012 and 2013, respectively. Amortization expense is estimated to be approximately $15,500 for the year ending December 31, 2013.

7. Goodwill and Intangibles

Goodwill

Effective April 1, 2013, the Company changed its basis of presentation from two to four segments. For more information on this realignment, see Note 20. “Business Segments.” The changes in the carrying amount of goodwill by reportable operating segment for the years ended December 31, 2011 and 2012 are summarized as follows:


	North America			Europe			South America			Asia Pacific		Total
Balance at December 31, 2010	$	115,384		$	13,926		$	3,480		$	4,210	$	137,000
Foreign exchange translation		(86	)		(330	)		(378	)		200		(594	)

Balance at December 31, 2011	$	115,298		$	13,596		$	3,102		$	4,410	$	136,406
Foreign exchange translation		122			240			(315	)		50		97
Impairment charges		—			—			(2,787	)		—		(2,787	)

Balance at December 31, 2012	$	115,420		$	13,836		$	—		$	4,460	$	133,716

Goodwill is not amortized but is tested for impairment, either annually or when events or circumstances indicate that impairment may exist, by reporting units determined in accordance with ASC 350, “Goodwill and Other Intangible Assets.” During the fourth quarter of 2012, the Company recorded a goodwill impairment charge of $2,787 in its South American segment. This charge was due to changes in the forecast for this operating segment resulting from launch activities and operating inefficiencies incurred in 2012 and expected to continue into the near future as additional time will be required to improve operational performance.

Other Intangible Assets

The following table presents intangible assets and accumulated amortization balances of the Company as of December 31, 2011 and 2012, respectively:


	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Useful Life (Years)
Customer relationships	$	138,576	$	(21,267	)	$	117,309		8.6
Developed technology		9,503		(2,521	)		6,982		4.8
Other		7,603		(203	)		7,400

Balance at December 31, 2011	$	155,682	$	(23,991	)	$	131,691		8.1

Customer relationships	$	135,741	$	(34,184	)	$	101,557		7.7
Developed technology		9,574		(4,143	)		5,431		3.9
Other		10,337		(601	)		9,736

Balance at December 31, 2012	$	155,652	$	(38,928	)	$	116,724		7.1

Amortization expense totaled $319, $8,982, $15,601 and $15,456 for the five months ended May 31, 2010, the seven months ended December 31, 2010 and the years ended December 31, 2011 and 2012, respectively.

Estimated amortization expense for the next five years is shown in the table below:


Year	Expense
2013	$	15,446
2014		15,257
2015		15,131
2016		14,739
2017		14,021

- 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.

+ References+ Details