Goodwill and Intangible Assets

3 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

The Company’s intangible assets by major asset class subject to amortization consist of:



December 31, 2013	Estimated Useful Life	Original Cost		Accumulated Amortization		Net Book Value
Intangible assets:
Trade name	10 years	$	2,000	$	496	$	1,504
Non-compete agreement	5 years	1,600		748		852
Below market lease	5 years	900		550		350
Customer relationships	10 years	13,800		3,456		10,344
Order backlog	1 year	2,200		2,144		56
Transition services	< 1 year	23		23		—
Total intangible assets		$	20,523	$	7,417	$	13,106



September 30, 2013	Estimated Useful Life	Original Cost		Accumulated Amortization		Net Book Value
Intangible assets:
Trade name	10 years	$	2,000	$	446	$	1,554
Non-compete agreement	5 years	1,600		668		932
Below market lease	5 years	900		505		395
Customer relationships	10 years	13,800		3,111		10,689
Order backlog	1 year	2,200		2,119		81
Transition services	< 1 year	23		23		—
Total intangible assets		$	20,523	$	6,872	$	13,651

The amortization expense on identifiable intangible assets for the first quarter ended December 31, 2013 and 2012 was $545 and $559, respectively. Amortization expense associated with the identified intangible assets is expected to be as follows:



	Amortization Expense
Fiscal year 2014	$	2,161
Fiscal year 2015	2,080
Fiscal year 2016	1,854
Fiscal year 2017	1,617
Fiscal year 2018	1,596

The Company’s goodwill is not being amortized and is subject to annual impairment tests. All of the goodwill is expected to be deductible for tax purposes. Changes in the net carrying amount of goodwill was as follows:



Balance at September 30, 2013	$	7,620
Goodwill purchase price adjustment	38
Balance at December 31, 2014	$	7,658

- 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