NOTE 5: INTANGIBLE ASSETS, NET

The following table summarizes intangible assets related to acquisitions:



		March 31, 2014				December 31, 2013
	Amortization	Gross				Gross
Intangible Assets	Period	Carrying		Accumulated		Carrying		Accumulated
(Amounts in thousands)	In Years	Amount		Amortization		Amount		Amortization
Goodwill	Indefinite	$	143,170	$	—	$	142,682	$	—
Trademarks and trade names	Indefinite	58,809		—		58,814		—
Total with indefinite lives		201,979		—		201,496		—
Distribution and non-compete agreements	2 - 7	6,092		1,225		1,112		1,064
Patents	11 - 13	5,320		2,096		5,320		1,988
Manufacturing technology	n/a	2,637		2,637		2,639		2,639
Trademarks and trade names	5	549		45		549		18
Customer relationships	10 - 19	107,625		46,099		107,633		43,217
Total with finite lives		122,223		52,102		117,253		48,926
Total intangible assets		$	324,202	$	52,102	$	318,749	$	48,926

The following table shows the change in goodwill for the three months ended March 31, 2014:



Change in Goodwill	Forestry, Lawn, and Garden ("FLAG")			Farm, Ranch, and Agriculture ("FRAG")		Corporate and Other		Total
(Amounts in thousands)
December 31, 2013	$	64,607		$	78,061	$	14	$	142,682
Acquisition of Pentruder	—			—		492		492
Effect of changes in foreign exchange rates	(4		)	—		—		(4		)
March 31, 2014	$	64,603		$	78,061	$	506	$	143,170

In the fourth quarter of 2013, the Company recognized impairment charges totaling $24.9 million on goodwill and indefinite-lived intangible assets other than goodwill. Specifically, the Company's impairment analysis resulted in impairment charges of $19.6 million on goodwill at our SpeeCo reporting unit and $3.2 million on our PBL reporting unit. Through March 31, 2014, these are the only impairments of goodwill recognized by the Company. In addition, impairment charges totaling $2.1 million were recognized on the Carlton and SpeeCo trade name intangible assets. Determining the fair value of goodwill and other intangible assets is a complex process involving the projection of future expected cash flows and then discounting those projected cash flows to present value. The process involves numerous significant assumptions about future events and is highly judgmental in nature. Certain of the Company's goodwill reporting units have limited amounts of headroom or excess of estimated fair value over the recorded values of their net assets. Certain of the Company's indefinite-lived intangible assets have limited amounts of headroom or excess of estimated fair value over the recorded values. Significant adverse developments or changes in assumptions related to these goodwill reporting units or other intangible assets could result in additional impairment charges being recognized in the future. See additional information regarding the annual impairment analysis of goodwill and other indefinite-lived intangible assets in Form 10-K for the year ended December 31, 2013.

Amortization expense for these intangible assets, included in cost of goods sold in the Consolidated Statements of Income, was as follows:



Amortization Expense for Intangible Assets	Three Months Ended March 31,
(Amounts in thousands)	2014		2013
Amortization expense for acquired intangible assets	$	3,182	$	3,557

Amortization expense for these intangible assets is expected to total $12.8 million in 2014, $11.4 million in 2015, $10.0 million in 2016, $8.4 million in 2017, and $7.0 million in 2018.