Goodwill And Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Indefinite-Lived Intangible Assets

The following table summarizes information related to indefinite-lived intangible assets at December 31:



(In Thousands)	2014		2013
Trade Names and Trademarks	$	53,000	$	—
Goodwill	530,670		239,181
Indefinite-lived Intangible Assets	$	583,670	$	239,181

The increase in goodwill and trade name-related intangible assets in 2014 is primarily due to the acquisition of Progressive as described in Note 2 to these consolidated financial statements.

The following table provides information related to the carrying value of goodwill by operating segment:



(In Thousands)	Sales and Lease Ownership			Progressive		HomeSmart		Total
Balance at January 1, 2013	$	219,547		$	—	$	14,648	$	234,195
Acquisitions	5,429			—		—		5,429
Disposals	(499		)	—		—		(499		)
Purchase Price Adjustments	46			—		10		56
Balance at December 31, 2013	224,523			—		14,658		239,181
Acquisitions	3,629			277,958		—		281,587
Disposals	(1,321		)	—		—		(1,321		)
Purchase Price Adjustments	(3		)	11,226		—		11,223
Balance at December 31, 2014	$	226,828		$	289,184	$	14,658	$	530,670

Definite-Lived Intangible Assets

The following table summarizes information related to definite-lived intangible assets at December 31:



	2014							2013
(In Thousands)	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Customer Relationships	$	1,064	$	(554	)	$	510	$	2,282	$	(1,463	)	$	819
Non-Compete Agreements	1,906		(1,261		)	645		3,265		(2,001		)	1,264
Acquired Franchise Development Rights	2,751		(1,624		)	1,127		3,529		(2,077		)	1,452
Internal Use Software	14,000		(3,331		)	10,669		—		—			—
Technology	66,000		(4,712		)	61,288		—		—			—
Customer Lease Contracts	11,000		(11,000		)	—		—		—			—
Merchant Relationships	181,000		(10,768		)	170,232		—		—			—
Total	$	277,721	$	(33,250	)	$	244,471	$	9,076	$	(5,541	)	$	3,535

The increase in definite-lived intangible assets in 2014 is primarily due to the acquisition of Progressive as described in Note 2 to these consolidated financial statements.

Total amortization expense of definite-lived intangible assets, included in operating expenses in the accompanying consolidated statements of earnings, was $31.9 million, $3.7 million and $3.7 million during the years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014, estimated future amortization expense for the next five years related to definite-lived intangible assets is as follows:



(In Thousands)
2015	$	27,496
2016	26,978
2017	23,311
2018	21,800
2019	21,734

- 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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