Intangible Assets and Goodwill

9 Months Ended

Dec. 31, 2011

Note 5. Intangible Assets and Goodwill

The carrying amount of goodwill at December 31, 2011 and March 31, 2011 was $35.8 million and $38.9 million, respectively, and has been recorded in connection with the Company’s acquisition of Impella Cardiosystems AG, or Impella. The goodwill activity for the nine months ended December 31, 2011 is as follows:


	(in $000’s)
Balance at April 1, 2011	$	38,946
Exchange rate impact		(3,174	)

Balance at December 31, 2011	$	35,772

The components of intangible assets are as follows:


	December 31, 2011						March 31, 2011
	Cost		Accumulated Amortization		Net Book Value		Cost		Accumulated Amortization		Net Book Value
	(in $000’s)						(in $000’s)
Patents	$	6,548	$	6,239	$	309	$	7,099	$	6,005	$	1,094
Trademarks and tradenames		333		317		16		361		299		62
Distribution agreements		634		604		30		690		584		106
Acquired technology		2,189		2,085		104		2,384		2,014		370

	$	9,704	$	9,245	$	459	$	10,534	$	8,902	$	1,632

Amortization of intangible assets was $0.4 million and $0.3 million for the three months ended December 31, 2011 and 2010, respectively. Amortization of intangible assets was $1.1 million and $1.0 million for the nine months ended December 31, 2011 and 2010, respectively. The Company’s expected amortization expense will be $0.3 million for the three months ending March 31, 2012 and $0.2 million for the year ending March 31, 2013.

- 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