XML 99 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
Intangible Assets (Notes)
 12 Months Ended
Sep. 30, 2013
Intangible Assets [Abstract]  
Intangible Assets Disclosure [Text Block]
Intangible Assets
Intangible assets of $2.8 million, attributed to customer relationships, acquired during the fiscal year ended September 30, 2013 relate to an acquisition, as discussed in Note 19.
The gross and net carrying values of intangible assets as of the balance sheet dates, by major intangible asset class are as follows:
 
September 30, 2013
 
September 30, 2012
(in millions)
Gross Amount
 
Accumulated
Amortization
 
Net Amount
 
Gross Amount
 
Accumulated
Amortization
 
Net Amount
Intangible assets subject to amortization
 
 
 
 
 
 
 
 
 
 
 
Noncompete agreement
$
3.7

 
$
(3.7
)
 
$
—

 
$
3.7

 
$
(3.0
)
 
$
0.7

Trade name
0.7

 
(0.7
)
 
—

 
0.7

 
(0.5
)
 
0.2

Software programs/platforms
2.2

 
(1.5
)
 
0.7

 
2.2

 
(1.0
)
 
1.2

Customer base
12.4

 
(2.6
)
 
9.8

 
9.6

 
(1.8
)
 
7.8

 
19.0

 
(8.5
)
 
10.5

 
16.2

 
(6.3
)
 
9.9

Intangible assets not subject to amortization
 
 
 
 
 
 
 
 
 
 
 
Trade name
1.1

 
—

 
1.1

 
1.2

 
—

 
1.2

Total intangible assets
$
20.1

 
$
(8.5
)
 
$
11.6

 
$
17.4

 
$
(6.3
)
 
$
11.1


Amortization expense related to intangible assets was $2.2 million, $2.5 million, and $2.3 million for the fiscal years ended 2013, 2012 and 2011, respectively.
As of September 30, 2013, the estimated future amortization expense was as follows:
(in millions)
 
Fiscal 2014
$
1.4

Fiscal 2015
1.0

Fiscal 2016
0.7

Fiscal 2017
0.7

Fiscal 2018
0.7

Fiscal 2019 and thereafter
6.0

 
$
10.5


During the fiscal years ended September 30, 2013 and 2012, as part of the annual goodwill and intangible assets impairment analysis, the Company assessed the value of the indefinite-lived trade names related to previous acquisitions and determined that the value of the Hanley Companies, Hencorp Futures and Provident Group trade names had been impaired during those years. The Company discontinued the use of those trade names, which impaired the value of the previously recorded intangible assets. The remaining value, if any, of the trade names was determined based on the income approach utilizing projected sales, an estimated royalty rate and discount rate.
The Company recorded impairment losses for the trade names of $0.1 million and $0.8 million, in ‘bad debts and impairments’ on the consolidated income statements, during the fiscal years ended September 30, 2013 and 2012. During fiscal year 2012, the Company determined that the remaining value of the Hencorp Futures trade name was no longer an indefinite-lived intangible asset. The remaining value of the Hencorp Futures trade name of $0.1 million was amortized over a one year period. The Hanley Companies, Hencorp Futures and Provident Group trade names were recorded in the CR&M and Securities segments, respectively.