Goodwill and Other Intangible Assets

9 Months Ended

Oct. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]



	Weighted Average Life at 10/31/2017	October 31, 2017							January 31, 2017
	Weighted Average Life at 10/31/2017	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
				(in thousands)							(in thousands)
Goodwill		$	3,997						$	3,997
Proprietary rights	5.1	$	5,973	$	(3,430	)	2,543		$	5,810	$	(3,003	)	2,807
Customer relationships	4.1	4,835		(2,206		)	2,629		4,679		(1,656		)	3,023
Patents	5.2	1,663		(705		)	958		1,608		(558		)	1,050
Trade name	8.6	889		(36		)	853		884		(27		)	857
Developed technology	8.2	1,430		(262		)	1,168		1,430		(155		)	1,275
Amortizable intangible assets		$	14,790	$	(6,639	)	$	8,151	$	14,411	$	(5,399	)	$	9,012

On January 31, 2016, based on a review of qualitative factors, the Company recorded an impairment of the goodwill associated with its Seamap reporting unit in the amount of $3.0 million. The Seamap reporting unit is included in the Equipment Manufacturing and Sales segment. Also at January 31, 2016, the Company recorded impairment of approximately $600,000 related to certain identifiable intangible assets related to its Equipment Leasing segment.

As of January 31, 2017, the Company completed the annual review of goodwill and other intangible assets. Based on a review of qualitative and quantitative factors it was determined it was more likely than not that the fair value of our reporting units was greater than their carrying value. During the nine months ended October 31, 2017 there have been no substantive indicators of additional impairment.

Amortizable intangible assets are amortized over their estimated useful lives of five to 15 years using the straight-line method. Aggregate amortization expense was $1.1 million for the nine months ended October 31, 2017 and 2016.

As of October 31, 2017, future estimated amortization expense related to amortizable intangible assets was estimated to be:



For fiscal years ending January 31 (in thousands):
2018	$	364
2019	1,458
2020	1,458
2021	1,310
2022	838
2023 and thereafter	2,723

Total	$	8,151

- 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