Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

The Company's intangible assets at September 30, 2013, and December 31, 2012, all of which are subject to amortization, consisted of the following:



	September 30, 2013							December 31, 2012
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
	(in thousands)
Sports segment:
Customer relationships	$	235	$	(102	)	$	133	$	235	$	(67	)	$	168

Energy segment:
Customer relationships	43,100		(11,986		)	31,114		43,100		(6,356		)	36,744
Trade names	4,100		(2,076		)	2,024		4,100		(1,125		)	2,975
	47,200		(14,062		)	33,138		47,200		(7,481		)	39,719
Total	$	47,435	$	(14,164	)	$	33,271	$	47,435	$	(7,548	)	$	39,887

Amortization expense was $2.0 million and $2.6 million, for the three months ended September 30, 2013 and 2012, respectively. Amortization expense was $6.6 million and $5.0 million, for the nine months ended September 30, 2013 and 2012, respectively.

Estimated aggregate amortization expense related to the intangible assets for the next five years is as follows:



	Amount
	(in thousands)
For the year ended December 31:
Remainder of 2013	$	3,115
2014	6,612
2015	5,281
2016	4,273
2017	3,158
Thereafter	10,832
	$	33,271

The changes to the Company’s carrying amount of goodwill were as follows:



	Nine Months Ended September 30, 2013						Year Ended December 31, 2012
	Energy		Sports		Total		Energy		Sports			Total
	(in thousands)
Balance at beginning of period	$	52,939	$	154	$	53,093	$	6,256	$	1,988		$	8,244
Acquisitions (see Note 3)	—		6,071		6,071		46,683		154			46,837
Impairments	—		—		—		—		(1,988		)	(1,988		)
Balance at end of period	$	52,939	$	6,225	$	59,164	$	52,939	$	154		$	53,093

Goodwill at September 30, 2013 includes VIE goodwill of $3.6 million in the Company's Sports segment. There was no VIE goodwill at December 31, 2012. During the nine months ended September 30, 2012, the Company recognized a goodwill impairment of $1.8 million related to The Show, which is included in “Income (loss) from discontinued operations" in the consolidated statements of operations. Including a goodwill impairment of $0.2 million incurred in the latter half of 2012 related to another Sports segment operation, accumulated goodwill impairment was $2.0 million at September 30, 2013, and December 31, 2012.

The components of goodwill at September 30, 2013, and December 31, 2012, were as follows:



	September 30, 2013			December 31, 2012
	(in thousands)
Goodwill	$	61,152		$	55,081
Accumulated impairment	(1,988		)	(1,988		)
Net goodwill	$	59,164		$	53,093

- 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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