Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Note 3 – Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill, allocated by reportable segments, were as follows (See Note 12):


(Dollar amounts in thousands)	Merchant Acquiring, net		Payment Processing			Business Solutions		Total
Balance at December 31, 2014	$	138,121	$	184,228		$	46,488	$	368,837
Foreign currency translation adjustments		—		(26	)		100		74

Balance at June 30, 2015	$	138,121	$	184,202		$	46,588	$	368,911

Goodwill is tested for impairment at least annually, or more often if events or circumstances indicate there may be impairment, using the qualitative assessment option or step zero process. Using this process, the Company first assesses whether it is “more likely than not” that the fair value of a reporting unit is less than its carrying amount. There were no triggering events or changes in circumstances that, subsequent to the impairment test, would have required an additional impairment evaluation.

The carrying amount of other intangible assets for the six months ended June 30, 2015 and the year ended December 31, 2014 consisted of the following:


		June 30, 2015
(Dollar amounts in thousands)	Useful life in years	Gross amount		Accumulated amortization			Net carrying amount
Customer relationships	14	$	312,795	$	(106,628	)	$	206,167
Trademark	10 - 15		39,950		(16,454	)		23,496
Software packages	3 - 10		146,398		(97,265	)		49,133
Non-compete agreement	15		56,539		(17,904	)		38,635

Other intangible assets, net		$	555,682	$	(238,251	)	$	317,431


		December 31, 2014
(Dollar amounts in thousands)	Useful life in years	Gross amount		Accumulated amortization			Net carrying amount
Customer relationships	14	$	312,735	$	(95,482	)	$	217,253
Trademark	10 - 15		39,950		(14,722	)		25,228
Software packages	3 - 10		138,188		(86,605	)		51,583
Non-compete agreement	15		56,539		(16,019	)		40,520

Other intangible assets, net		$	547,412	$	(212,828	)	$	334,584

For the three and six months ended June 30, 2015, the Company recorded amortization expense related to other intangibles of $12.7 million and $25.4 million, respectively, compared to $12.6 million and $25.3 million for the corresponding 2014 periods.

The estimated amortization expense of the balances outstanding at June 30, 2015 for the next five years is as follows:


(Dollar amounts in thousands)
Remaining 2015	$	23,464
2016		39,154
2017		35,942
2018		32,966
2019		31,937
2020		30,017

- 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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