Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

The Company's intangible assets at September 30, 2014, and December 31, 2013, all of which are subject to amortization, consisted of the following:



	September 30, 2014							December 31, 2013
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
	(in thousands)
Energy segment:
Customer relationships	$	54,430	$	(19,999	)	$	34,431	$	54,430	$	(13,700	)	$	40,730
Trade names	4,860		(3,006		)	1,854		4,860		(2,315		)	2,545
Non-compete agreement	120		(19		)	101		120		—			120
	59,410		(23,024		)	36,386		59,410		(16,015		)	43,395

Sports segment:
Customer relationships	2,089		(550		)	1,539		1,163		(230		)	933
Trade names	122		(30		)	92		122		(12		)	110
	2,211		(580		)	1,631		1,285		(242		)	1,043

Total	$	61,621	$	(23,604	)	$	38,017	$	60,695	$	(16,257	)	$	44,438

Amortization expense was $2.3 million and $2.0 million for the three months ended September 30, 2014 and 2013, respectively. Amortization expense was $7.3 million and $6.6 million for the nine months ended September 30, 2014 and 2013, 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 2014	$	2,234
2015	8,210
2016	7,202
2017	5,971
2018	5,232
Thereafter	9,168
Total	$	38,017

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



	Nine Months Ended September 30, 2014						Year Ended December 31, 2013
	Energy		Sports		Total		Energy		Sports			Total
	(in thousands)
Balance, beginning of period	$	65,359	$	2,171	$	67,530	$	52,939	$	154		$	53,093
Acquisitions	—		—		—		10,576		5,594			16,170
Adjustments to fair value	—		—		—		1,844		—			1,844
Impairments	—		—		—		—		(3,577		)	(3,577		)
Balance, end of period	$	65,359	$	2,171	$	67,530	$	65,359	$	2,171		$	67,530

The amounts for the Energy segment at December 31, 2013, have been revised to reflect measurement period adjustments identified during the nine months ended September 30, 2014, related to the assets acquired from Black Hawk Inc. as if they had been recognized at the acquisition date (see Note 3). The adjustment to fair value in 2013 represents an adjustment to reflect additional acquisition-date deferred income tax liabilities and non-current deferred compensation obligations related to the acquisition of Sun Well Service, Inc. (“Sun Well”) in May 2012. During the year ended December 31, 2013, the Company recognized a goodwill impairment of $3.6 million related to the shutdown of Ruckus (see Note 4).

The components of goodwill at September 30, 2014, and December 31, 2013, were as follows:



	September 30, 2014			December 31, 2013
	(in thousands)
Goodwill	$	73,095		$	73,095
Accumulated impairment	(5,565		)	(5,565		)
Net goodwill	$	67,530		$	67,530

- 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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