XML 26 R12.htm IDEA: XBRL DOCUMENT

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Feb. 28, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 6 – GOODWILL AND OTHER INTANGIBLE ASSETS

All goodwill shown in the accompanying consolidated balance sheets is associated with the Company’s Wireless DataCom segment. Changes in goodwill are as follows (in thousands):

	Year Ended February 28,
	2017		2016
Balance at beginning of period	$	16,508	$	15,483
Acquisition of LoJack		56,472		-
Acquisition of CrashBoxx		-		1,025
Balance at end of period	$	72,980	$	16,508

Other intangible assets are comprised as follows (in thousands):

		Gross						Accumulated Amortization						Net

	Amortization	Feb. 28,				Feb. 28,		Feb. 28,				Feb. 28,		Feb. 28,		Feb. 28,
	Period	2016		Additions		2017		2016		Expense		2017		2017		2016
Supply contract	5 years	$	2,220	$	-	$	2,220	$	1,679	$	433	$	2,112	$	108	$	541
Developed technology	2-7 years		14,080		8,200		22,280		6,427		3,896		10,323		11,957		7,653
Tradenames	7-10 years		2,143		35,500		37,643		1,522		3,704		5,226		32,417		621
Customer lists	4-7 years		18,300		4,650		22,950		10,358		4,660		15,018		7,932		7,942
Dealer relationships	7 years		-		16,850		16,850		-		2,308		2,308		14,542		-
Covenants not to compete	5 years		170				170		128		34		162		8		42
Patents	5 years		273		74		347		62		26		88		259		211
		$	37,186	$	65,274	$	102,460	$	20,176	$	15,061	$	35,237	$	67,223	$	17,010

Amortization expense of intangible assets was $15,061,000, $6,626,000 and $6,590,000 in fiscal years 2017, 2016 and 2015, respectively. All intangible asset amortization expense is attributable to the Wireless DataCom segment. Estimated amortization expense in future fiscal years is as follows (in thousands):

Fiscal Year
2018	$	15,010
2019		11,664
2020		9,657
2021		7,834
2022		6,201
Thereafter		16,857
	$	67,223

- 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.

+ References + Details