Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2012

Goodwill and Intangible Assets [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE 5. GOODWILL AND INTANGIBLE ASSETS

The following table summarizes information related to net carrying value of intangible assets (in thousands):

	Amortization Life (in years)		March 31, 2012		December 31, 2011
Goodwill		n/a	$	672	$	672
Definite-lived intangible assets:
Tradenames		10		388		400
Customer relationships		5		535		627
Total definite-lived intangible assets				923		1,027
Total intangible assets, net			$	1,595	$	1,699

Amortization expense for intangible assets subject to amortization was $0.1 million for the three months ended March 31, 2012, as compared to $0.2 million for the three months ended March 31, 2011. The Company amortizes Tradenames on a straight-line basis over the estimated useful lives of the intangible assets. Customer relationships are amortized over their expected useful lives on an accelerated method that approximates the cash flows associated with those relationships. Based on the carrying value of amortized intangible assets the Company estimates amortization expense for future years to be as follows (in thousands):

Year ending December 31,	Amount
2012 April through December	$	316
2013		252
2014		105
2015		50
2016		50
2017 and thereafter		150
Total amortization expense	$	923

As of March 31, 2012, the Company had $0.7 million of goodwill recorded on its financial statements related to the acquisition of SRC.