Goodwill and Intangible Assets, Net

3 Months Ended

Mar. 31, 2012

Goodwill and Intangible Assets, Net.

Goodwill and Intangible Assets, Net

5.             Goodwill and Intangible Assets, Net

Goodwill was as follows:

(in thousands)

	At March 31,				At December 31,
	2012		2011		2011
North America	$	77,606	$	41,871	$	73,901
Europe	50,975		27,500		24,000
Asia/Pacific	1,975		1,967		1,948
Total	$	130,556	$	71,338	$	99,849

Intangible assets, net, were as follows:

(in thousands)

	At March 31, 2012
	Gross					Net
	Carrying		Accumulated			Carrying
	Amount		Amortization			Amount
North America	$	34,552	$	(14,304	)	$	20,248
Europe	28,953		(5,717		)	23,236
Total	$	63,505	$	(20,021	)	$	43,484

	At March 31, 2011
	Gross					Net
	Carrying		Accumulated			Carrying
	Amount		Amortization			Amount
North America	$	24,022	$	(11,443	)	$	12,579
Europe	15,078		(4,761		)	10,317
Total	$	39,100	$	(16,204	)	$	22,896

	At December 31, 2011
	Gross					Net
	Carrying		Accumulated			Carrying
	Amount		Amortization			Amount
North America	$	32,912	$	(13,288	)	$	19,624
Europe	13,114		(4,882		)	8,232
Total	$	46,026	$	(18,170	)	$	27,856

Intangible assets consist primarily of customer relationships, patents, unpatented technology and non-compete agreements. Amortization expense for intangible assets during the three months ended March 31, 2012 and 2011, totaled $1.9 million and $1.1 million, respectively.

At March 31, 2012, estimated future amortization of intangible assets was as follows:

(in thousands)

Final nine months of 2012	$	5,227
2012	6,550
2013	6,334
2014	5,566
2015	5,410
2016	3,912
Thereafter	10,485
	$	43,484

The changes in the carrying amount of goodwill and intangible assets from December 31, 2011, to March 31, 2012, were as follows:

(in thousands)

			Intangible
	Goodwill		Assets
Balance at December 31, 2011	$	99,849	$	27,856
Acquisitions	29,674		16,638
Amortization	—		(1,851		)
Foreign exchange	1,033		841
Balance at March 31, 2012	$	130,556	$	43,484