XML 26 R15.htm IDEA: XBRL DOCUMENT v3.10.0.1
Goodwill and Other Intangible Assets
6 Months Ended
Jun. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

Note 9. Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill are as follows:

 

(in thousands)

 

GES U.S.

 

 

GES International

 

 

Pursuit

 

 

Total

 

Balance at December 31, 2017

 

$

148,277

 

 

$

38,840

 

 

$

83,434

 

 

$

270,551

 

Foreign currency translation adjustments

 

 

 

 

 

(1,038

)

 

 

(3,490

)

 

 

(4,528

)

Balance at June 30, 2018

 

$

148,277

 

 

$

37,802

 

 

$

79,944

 

 

$

266,023

 

Other intangible assets consisted of the following:

 

 

 

June 30, 2018

 

 

December 31, 2017

 

(in thousands)

 

Gross Carrying

Value

 

 

Accumulated

Amortization

 

 

Net Carrying Value

 

 

Gross Carrying

Value

 

 

Accumulated

Amortization

 

 

Net Carrying Value

 

Amortized intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer contracts and relationships

 

$

68,454

 

 

$

(27,708

)

 

$

40,746

 

 

$

68,798

 

 

$

(23,696

)

 

$

45,102

 

Operating contracts and licenses

 

 

9,530

 

 

 

(1,207

)

 

 

8,323

 

 

 

9,951

 

 

 

(1,094

)

 

 

8,857

 

Tradenames

 

 

8,553

 

 

 

(3,343

)

 

 

5,210

 

 

 

8,633

 

 

 

(2,873

)

 

 

5,760

 

Non-compete agreements

 

 

5,298

 

 

 

(3,573

)

 

 

1,725

 

 

 

5,363

 

 

 

(3,007

)

 

 

2,356

 

Other

 

 

1,678

 

 

 

(745

)

 

 

933

 

 

 

896

 

 

 

(650

)

 

 

246

 

Total amortized intangible assets

 

 

93,513

 

 

 

(36,576

)

 

 

56,937

 

 

 

93,641

 

 

 

(31,320

)

 

 

62,321

 

Unamortized intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business licenses

 

 

460

 

 

 

 

 

 

460

 

 

 

460

 

 

 

 

 

 

460

 

Other intangible assets

 

$

93,973

 

 

$

(36,576

)

 

$

57,397

 

 

$

94,101

 

 

$

(31,320

)

 

$

62,781

 

Intangible asset amortization expense was $2.9 million for the three months ended June 30, 2018 and $5.5 million for the six months ended June 30, 2018. Intangible asset amortization expense was $3.3 million for the three months ended June 30, 2017 and $6.3 million for the six months ended June 30, 2017. The weighted-average amortization period of: customer contracts and relationships is approximately 8.1 years, operating contracts and licenses is approximately 25.9 years, tradenames is approximately 6.6 years, non-compete agreements is approximately 1.8 years, and other amortizable intangible assets is approximately 8.2 years. The estimated future amortization expense related to amortized intangible assets held at June 30, 2018 is as follows:

 

(in thousands)

 

 

 

 

Year ending December 31,

 

 

 

 

Remainder of 2018

 

$

5,527

 

2019

 

 

9,951

 

2020

 

 

8,455

 

2021

 

 

7,465

 

2022

 

 

5,932

 

Thereafter

 

 

19,607

 

Total

 

$

56,937