Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the three months ended March 31, 2015 were as follows:



(in thousands)	Marketing & Events U.S.		Marketing & Events International			Travel & Recreation Group			Total
Balance at December 31, 2014	$	110,618	$	42,221		$	41,358		$	194,197
Purchase price allocation adjustments	762		211			—			973
Foreign currency translation adjustments	—		(2,837		)	(3,695		)	(6,532		)
Balance at March 31, 2015	$	111,380	$	39,595		$	37,663		$	188,638

The original purchase price allocations were based on information available at the respective acquisition dates. During the quarter ended March 31, 2015, we recorded measurement period adjustments to the original purchase price allocation for Blitz, onPeak LLC, Travel Planners, Inc. and N200, which increased goodwill by $1.0 million. The amount was not considered significant and therefore prior periods have not been retrospectively adjusted. For additional information, refer to Note 3, Acquisition of Businesses.

A summary of other intangible assets is presented below:



	March 31, 2015					December 31, 2014
(in thousands)	Gross Carrying Value		Accumulated Amortization			Gross Carrying Value		Accumulated Amortization
Amortized intangible assets:
Customer contracts and relationships	$	39,940	$	(4,074	)	$	41,624	$	(2,961	)
Other	4,475		(1,054		)	4,576		(732		)
Total amortized intangible assets	44,415		(5,128		)	46,200		(3,693		)
Unamortized intangible assets:
Business licenses	460		—			460		—
Other intangible assets	$	44,875	$	(5,128	)	$	46,660	$	(3,693	)

The original purchase price allocations were based on information available at the respective acquisition dates. During the quarter ended March 31, 2015, we recorded measurement period adjustments to the original purchase price allocation for Blitz, onPeak LLC, Travel Planners, Inc. and N200, which reduced other intangible assets by $0.7 million. The amount was not considered significant and therefore prior periods have not been retrospectively adjusted. For additional information, refer to Note 3, Acquisition of Businesses.

Intangible asset amortization expense for the three months ended March 31, 2015 and 2014 was $2.0 million and $0.3 million, respectively. Estimated amortization expense related to amortized intangible assets for future years is expected to be as follows:



(in thousands)
Remainder of 2015	$	5,732
2016	$	6,511
2017	$	5,698
2018	$	4,735
2019	$	4,355
Thereafter	$	12,256

- 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.

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