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Intangibles
6 Months Ended
Jun. 30, 2014
Intangibles  
Intangibles

(7) Intangibles

 

Acquired other intangible assets consisted of the following at June 30, 2014 and December 31, 2013 (dollars in thousands):

 

 

 

June 30, 2014

 

December 31, 2013

 

 

 

 

 

Gross Carrying
Amount

 

Accumulated
Amortization

 

Gross Carrying
Amount

 

Accumulated
Amortization

 

Useful Lives
(Years)

 

Trade names

 

$

8,400

 

$

 

$

8,400

 

$

 

 

Customer-related intangibles

 

27,851

 

10,035

 

27,851

 

8,923

 

13.1

 

Proprietary software

 

21,501

 

19,275

 

21,501

 

17,921

 

6.4

 

Trading rights

 

340

 

 

243

 

 

 

Other

 

50

 

 

50

 

 

 

Total

 

$

58,142

 

$

29,310

 

$

58,045

 

$

26,844

 

 

 

 

At June 30, 2014, indefinite-lived intangibles not subject to amortization amounted to $8.8 million, of which $8.4 million related to the POSIT trade name.

 

Amortization expense for definite-lived intangibles was $1.2 million and $2.4 million for the three months and six months ended June 30, 2014, respectively, compared with $1.0 and $2.1 million in the respective prior-year periods. These amounts are included in other general and administrative expense in the Condensed Consolidated Statements of Income.

 

During the six months ended June 30, 2014, no intangibles were deemed impaired, and accordingly, no adjustment was required.