Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2012

NOTE 7. Goodwill and Other Intangible Assets

Goodwill and other intangible assets, net, consist of $44,871,000 of goodwill and $31,833,000 of intangible assets, net of accumulated amortization, as of September 30, 2012.

The changes in the net carrying amount of goodwill for the nine months ended September 30, 2012 were as follows (in thousands):


	Nine Months Ended September 30, 2012
Goodwill, beginning	$	44,668
Translation and other adjustments		203

Goodwill, ending	$	44,871

For other intangible assets, the changes in the net carrying amount for the nine months ended September 30, 2012, were as follows (in thousands):


	Nine Months Ended September 30, 2012
	Gross Amount			Accumulated Amortization
Other intangible assets, beginning	$	34,256		$	(1,206	)
Other intangible assets acquired during the period		769			—
Amortization expense		—			(1,929	)
Foreign currency translation effect on balances		(58	)		1

Other intangible assets, ending	$	34,967		$	(3,134	)

The components of other intangible assets were as follows (in thousands):


	Total Estimated Life (years)		September 30, 2012			December 31, 2011
Non-amortizable — indefinite lived:
Brand names			$	17,373		$	17,378
Amortized:
Non-compete agreements		5		240			240
Dealer/customer related		7		7,984			8,013
Developed technology		7		9,370			8,625

Total amortizable				17,594			16,878

Less: Accumulated amortization				(3,134	)		(1,206	)

Net amortized other intangible assets				14,460			15,672

Total other intangible assets, net			$	31,833		$	33,050

Amortization expense for intangible assets during the three months ended September 30, 2012 was $652,000. Estimated amortization expense for the remainder of 2012 and succeeding fiscal years is as follows: 2012 (remainder), $632,000; 2013, $2,527,000; 2014, $2,527,000; 2015, $2,527,000; 2016, $2,503,000; 2017, $2,261,000; and after 2017, $1,483,000.

- 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.

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