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Goodwill & Intangible Assets
6 Months Ended
Jun. 30, 2015
Goodwill & Intangible Assets [Abstract]  
Goodwill & Intangible Assets

 

4. GOODWILL & INTANGIBLE ASSETS

The following table summarizes the goodwill and identifiable intangible assets as of June 30, 2015 and December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2015

 

December 31, 2014

 

 

Gross Carrying Amount

 

Accumulated Amortization

 

Net Carrying Amount

 

Gross Carrying Amount

 

Accumulated Amortization

 

Net Carrying Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

Capitalized software

 

$

165,277 

(1)

$

(76,883)

(2)

$

88,394 

 

$

157,615 

(1)

$

(62,591)

(2)

$

95,024 

Customer relationships

 

 

5,053 

 

 

(5,053)

 

 

 -

 

 

5,945 

 

 

(5,798)

 

 

147 

Patents, copyrights, and trademarks

 

 

6,594 

 

 

(4,959)

 

 

1,635 

 

 

6,702 

 

 

(4,931)

 

 

1,771 

Core technology

 

 

4,170 

 

 

(4,170)

 

 

 -

 

 

4,170 

 

 

(4,170)

 

 

 -

Other

 

 

350 

 

 

(350)

 

 

 -

 

 

698 

 

 

(636)

 

 

62 

Total finite lived intangible assets

 

 

181,444 

 

 

(91,415)

 

 

90,029 

 

 

175,130 

 

 

(78,126)

 

 

97,004 

Indefinite lived intangible assets

 

 

307 

 

 

 -

 

 

307 

 

 

333 

 

 

 -

 

 

333 

Goodwill (3)

 

 

2,227 

 

 

 -

 

 

2,227 

 

 

2,044 

 

 

 -

 

 

2,044 

Goodwill and intangible assets

 

$

183,978 

 

$

(91,415)

 

$

92,563 

 

$

177,507 

 

$

(78,126)

 

$

99,381 

 


(1)

Includes $4.1 million of software held under a capital lease classified as capitalized software as of June 30, 2015 and December 31, 2014, respectively.  

(2)

Includes $2.8 million and $2.5 million of accumulated amortization of software held under a capital lease as of June 30, 2015 and December 31, 2014, respectively, and is amortized using the straight-line method over the useful life.

(3)

Change in goodwill relates entirely to foreign currency translation.

 

The following table summarizes estimated future annual amortization of intangible assets as of June 30, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization

Fiscal years ending December 31,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

2015 (remainder of year)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

9,957 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18,329 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16,608 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14,153 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12,232 

Thereafter 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18,750 

Total 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

90,029 

 

During the three months ended June 30, 2015 and 2014, amortization expense recorded for intangible assets with finite lives was $5.1 million, of which $1.6 million and $1.8 million, respectively, was recorded in ‘Cost of sales,’ with the remaining amounts recorded in ‘Selling, general and administrative expenses’ on the condensed consolidated statements of operations. During the six months ended June 30, 2015 and 2014, amortization expense recorded for intangible assets with finite lives was $10.1 million and $9.1 million, respectively, of which $3.0 million and $3.1 million, respectively, was recorded in ‘Cost of sales,’ with the remaining amounts recorded in ‘Selling, general and administrative expenses’ on the condensed consolidated statements of operations. As of June 30, 2015 and December 31, 2014, accumulated amortization was $91.4 million and $78.1 million, respectively.