XML 79 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 5 - Goodwill, Other Intangibles and Impairments of Long-Lived Assets
12 Months Ended
Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block]

Note 5 — Goodwill, Other Intangibles and Impairments of Long-Lived Assets


Changes in the carrying amount of goodwill by reportable segment are as follows:


(In thousands)

 

Fluids

Systems

   

Mats and

Integrated

Services

   

Total

 
                         

Balance at December 31, 2011

  $ 57,041     $ 14,929     $ 71,970  

Acquisition

    15,060       -       15,060  

Effects of foreign currency

    358       -       358  

Balance at December 31, 2012

    72,459       14,929       87,388  

Acquisition

    -       4,544       4,544  

Purchase price adjustments

    2,692       -       2,692  

Effects of foreign currency

    (560 )     -       (560 )

Balance at December 31, 2013

  $ 74,591     $ 19,473     $ 94,064  

We have evaluated the carrying values of our goodwill and other indefinite-lived intangible assets as of November 1, 2013. We determine any impairment of goodwill by comparing the carrying amounts of our reporting units with fair values, which we estimate using a combination of a market multiple and discounted cash flow approach. In completing this evaluation, we determined that no reporting unit has a fair value below its net carrying value and therefore, no impairment was required.


Other intangible assets consist of the following:


   

December 31, 2013

   

December 31, 2012

 

(In thousands)

 

Gross

Carrying

Amount

   

Accumulated

Amortization

   

Intangible

assets, net

   

Gross

Carrying

Amount

   

Accumulated

Amortization

   

Intangible 

assets, net

 
                                                 

Technology related

  $ 5,318     $ (3,065 )   $ 2,253     $ 5,222     $ (2,724 )   $ 2,498  

Customer related

    38,684       (17,892 )     20,792       42,540       (10,559 )     31,981  

Employment related

    2,238       (934 )     1,304       2,327       (593 )     1,734  

Total amortizing intangible assets

    46,240       (21,891 )     24,349       50,089       (13,876 )     36,213  
                                                 

Permits and licenses

    622       -       622       597       -       597  

Trademarks

    929       -       929       851       -       851  

Total indefinite-lived intangible assets

    1,551       -       1,551       1,448       -       1,448  
                                                 

Total intangible assets

  $ 47,791     $ (21,891 )   $ 25,900     $ 51,537     $ (13,876 )   $ 37,661  

Total amortization expense in 2013, 2012 and 2011 related to other intangible assets was $10.4 million, $3.3 million and $3.3 million, respectively. The increase in amortization expense in 2013 relates to the acquisition of Alliance Drilling Fluids, LLC in December 2012. See Note 6 Acquisitions in these Notes to Consolidated Financial Statements for additional details.


Estimated future amortization expense for the years ended December 31 is as follows (in thousands):


(In thousands)

 

 

2014

   

2015

   

2016

   

2017

   

2018

   

Thereafter

   

Total

 
                                                         

Technology related

  $ 400     $ 387     $ 341     $ 341     $ 341     $ 442     $ 2,252  

Customer related

    6,882       3,792       2,667       2,006       1,431       4,015       20,793  

Employment related

    329       325       325       325       -       -       1,304  

Total future amortization expense

  $ 7,611     $ 4,504     $ 3,333     $ 2,672     $ 1,772     $ 4,457     $ 24,349  

The average amortization period for technology related, customer related and employment related intangible assets is 14 years, 8 years and 5 years, respectively.