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Goodwill and Other Intangible Assets
9 Months Ended
Sep. 30, 2012
Goodwill and Other Intangible Assets

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.