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GOODWILL AND INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2014
Components of Intangible Assets Included in Wholesale Segment

The Company’s intangible assets, all of which are included in the U.S. Wholesale and International segments, consist of the following (in thousands):

 

     Year Ended December 31,  
     2014      2013  
     Gross      Accumulated
Amortization
    Net      Gross      Accumulated
Amortization
    Net  

Goodwill

   $ 18,101       $ —        $ 18,101       $ 5,085       $ —        $ 5,085   

Indefinite -lived intangible assets:

               

Trade names

     7,616         —          7,616         18,364         —          18,364   

Finite -lived intangible assets:

               

Licenses

     15,847         (8,007     7,840         15,847         (7,551     8,296   

Trade names

     29,768         (4,568     25,200         10,056         (2,677     7,379   

Customer relationships

     50,823         (6,754     44,069         18,406         (2,736     15,670   

Other

     1,202         (431     771         584         (229     355   
  

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Total

$ 123,357    $ (19,760 $ 103,597    $ 68,342    $ (13,193 $ 55,149   
  

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 
Summary of Activities Relating to Intangible Assets

A summary of the activities related to the Company’s intangible assets for the year ended December 31, 2014 consists of the following (in thousands):

 

     Intangible
Assets
     Goodwill      Total
Intangible
Assets and
Goodwill
 

Goodwill and Intangible Assets, December 31, 2011

   $ 44,264       $ 2,673       $ 46,937   

Acquisition of trade names

     3,940         —           3,940   

Acquisition of customer relationships

     7,240         —           7,240   

Goodwill from F&F acquisition

     —           2,412         2,412   

Impairment of Elements® trade name

     (1,069      —           (1,069

Amortization

     (1,618      —           (1,618
  

 

 

    

 

 

    

 

 

 

Goodwill and Intangible Assets, December 31, 2012

  52,757      5,085      57,842   

Amortization

  (2,693   —        (2,693
  

 

 

    

 

 

    

 

 

 

Goodwill and Intangible Assets, December 31, 2013

  50,064      5,085      55,149   
  

 

 

    

 

 

    

 

 

 

Acquisition of trade names

  12,348      —        12,348   

Acquisition of customer relationships

  32,417      —        32,417   

Acquisition of other intangible assets

  618      —        618   

Goodwill from Kitchen Craft acquisition

  —        13,016      13,016   

Impairment of trade names

  (3,384   —        (3,384

Amortization

  (6,567   —        (6,567
  

 

 

    

 

 

    

 

 

 

Goodwill and Intangible Assets, December 31, 2014

$ 85,496    $ 18,101    $ 103,597   
  

 

 

    

 

 

    

 

 

 
Weighted Average Amortization Periods for Finite Lived Intangible Assets

The weighted-average amortization periods for the Company’s finite-lived intangible assets as of December 31, 2014 are as follows:

 

     Years  

Trade names

     14   

Licenses

     33   

Customer relationships

     13   

Other

     11   
Estimated Amortization Expense

Estimated amortization expense for each of the five succeeding fiscal years is as follows (in thousands):

 

Year ending December 31,       

2015

   $ 7,004   

2016

     6,996   

2017

     6,708   

2018

     6,708   

2019

     6,708