Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v2.4.0.8
Intangible Assets
3 Months Ended
Mar. 31, 2014
Intangible Assets / Goodwill [Abstract]  
Intangible Assets

5 – Intangible Assets

The following table summarizes the components of gross and net intangible asset balances (in thousands):


 

 

 

March 31, 2014

 

 

December 31, 2013

 

 

 

 

Gross Carrying Amount

Accumulated Impairment

 

Accumulated Amortization

 

 

Net Book Value

 

 

 

Gross Carrying Amount

Accumulated Impairment

 

Accumulated Amortization

 

 

 

Net Book Value

 

 

 

Intangible assets with definite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Technology

 

 

$65,746

--

 

 

$(26,965)

)11

 

 

$38,781

 

 

 

$65,904

--

 

 

$(25,519)

 

 

 

$40,385

 

Customer related

 

 

32,278

--

 

 

(10,293)

 

 

 

21,985

 

 

 

31,231

--

 

 

(9,763)

 

 

 

21,468

 

Internally developed software

 

 

11,917

--

 

 

(5,395)

 

 

 

6,522

 

 

 

11,069

--

 

 

(5,107)

 

 

 

5,962

 

Patents

 

 

2,723

--

 

 

(2,121)

 

 

 

602

 

 

 

2,724

--

 

 

(2,094)

 

 

 

630

 

Backlog

 

 

722

--

 

 

(722)

 

 

 

--

 

 

 

722

--

 

 

(722)

 

 

 

--

 

Definite-lived intangible assets

 

 

113,386

 

 

 

(45,496)

 

 

 

67,890

 

 

 

111,650

--

 

 

(43,205)

 

 

 

68,445

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradenames

 

 

33,311

(3,060)

 

 

--

 

 

 

30,251

 

 

 

33,435

(3,060)

 

 

--

 

 

 

30,375

 

Total Intangibles

 

 

$146,697

$(3,060)

 

 

$(45,496)

 

 

 

$98,141

 

 

 

$145,085

$(3,060)

 

 

$(43,205)

 

 

 

$98,820

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

Definite-lived intangible assets are amortized over their weighted average lives of 15 years for technology, 12 years for customer related intangibles, 7 years for internally developed software, and 14 years for patents. Intangible assets with indefinite lives are not subject to amortization.

Internally developed software consists of $10.4 million relating to costs incurred for development of internal use computer software and $1.5 million for development of software to be sold.

Amortization expense related to intangible assets with definite lives was as follows (in thousands):

 

Three Months Ended March 31,

 

2014

2013

 

 

 

Technology

$1,096

$963

Customer Related

647

601

Internally developed software

288

239

Patents

30

20

Total amortization

$2,061

$1,823

 

 

 

 

 

 

 

Expected amortization expense related to amortizable intangible assets is as follows (in thousands):

 

 

 

Nine months ending December 31, 2014

$

 

5,965

2015

 

 

7,736

2016

 

 

6,863

2017

 

 

6,502

2018

 

 

6,236

2019

 

 

5,333

Thereafter

 

 

29,255

Total expected amortization expense

$

 

67,890