Changes in carrying amount of goodwill |
The changes in the carrying amount of goodwill for the years ended December 31, 2012 and 2011, are as follows (in thousands):
| | | | | | | | | | 2012 | | 2011 | Goodwill balance at January 1 | $ | 61,144 |
| | $ | 58,675 |
| Adjustment related to previous acquisitions | 280 |
| | (228 | ) | Additions as the result of acquisitions | 113,684 |
| | 2,697 |
| Goodwill balance at December 31 | $ | 175,108 |
| | $ | 61,144 |
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Other intangible assets |
Other intangible assets at December 31, 2012 and 2011, consisted of the following (in thousands):
| | | | | | | | | | | | | | 2012 | | Gross | | | | Net | | Carrying Amount | | Accumulated Amortization | | Carrying Amount | Patents | $ | 7,843 |
| | $ | (2,045 | ) | | $ | 5,798 |
| Distribution agreement | 5,176 |
| | (1,301 | ) | | 3,875 |
| License agreements | 2,733 |
| | (861 | ) | | 1,872 |
| Trademarks | 7,311 |
| | (1,362 | ) | | 5,949 |
| Covenant not to compete | 1,035 |
| | (160 | ) | | 875 |
| Customer lists | 20,468 |
| | (8,038 | ) | | 12,430 |
| Royalty agreements | 267 |
| | (267 | ) | | — |
| | | | | | | Total | $ | 44,833 |
| | $ | (14,034 | ) | | $ | 30,799 |
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| | | | | | | | | | | | | | 2011 | | Gross | | | | Net | | Carrying Amount | | Accumulated Amortization | | Carrying Amount | Patents | $ | 6,455 |
| | $ | (1,704 | ) | | $ | 4,751 |
| Distribution agreement | 2,426 |
| | (900 | ) | | 1,526 |
| License agreements | 1,983 |
| | (436 | ) | | 1,547 |
| Trademarks | 5,746 |
| | (1,014 | ) | | 4,732 |
| Covenant not to compete | 315 |
| | (108 | ) | | 207 |
| Customer lists | 14,277 |
| | (5,786 | ) | | 8,491 |
| Royalty agreements | 267 |
| | (267 | ) | | — |
| | | | | | | Total | $ | 31,469 |
| | $ | (10,215 | ) | | $ | 21,254 |
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Estimated amortization expense |
Estimated amortization expense for the intangible assets for the next five years consists of the following as of December 31, 2012 (in thousands):
| | | | | Year Ending December 31 | | 2013 | $ | 13,934 |
| 2014 | 13,264 |
| 2015 | 12,738 |
| 2016 | 12,274 |
| 2017 | 11,917 |
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