Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets

Schedule of changes in goodwill by segment

The following table presents an analysis of the changes in goodwill by segment (in thousands):

	Guitar			Direct
	Center			Response			Total
Balance at December 31, 2010
Goodwill	$	644,393		$	170,718		$	815,111
Accumulated impairment losses	(123,804		)	(1,903		)	(125,707		)
	520,589			168,815			689,404
Reasssignment of goodwill upon change in operating segments	61,789			(61,789		)	—
Goodwill impairment	—			(107,026		)	(107,026		)
Balance at December 31, 2011
Goodwill	706,182			108,929			815,111
Accumulated impairment losses	(123,804		)	(108,929		)	(232,733		)
	582,378			—			582,378
Balance at December 31, 2012
Goodwill	706,182			—			706,182
Accumulated impairment losses	(123,804		)	—			(123,804		)
	$	582,378		$	—		$	582,378

Intangible Assets

Summary of intangible assets

The following tables present a summary of our intangible assets (dollars in thousands, life in years):

		December 31, 2012
	Weighted-	Gross
	Average Useful	Carrying		Accumulated			Intangible
	Life	Amount		Amortization			Assets, Net
Unamortized trademark	—	$	208,501	$	—		$	208,501
Amortized
Customer relationships	13.0	224,302		(148,042		)	76,260
Favorable lease terms	7.5	57,721		(51,323		)	6,398
Covenants not to compete and other	4.3	785		(675		)	110
		$	491,309	$	(200,040	)	$	291,269

		December 31, 2011
	Weighted-	Gross
	Average Useful	Carrying		Accumulated			Intangible
	Life	Amount		Amortization			Assets, Net
Unamortized trademark	—	$	208,501	$	—		$	208,501
Amortized
Customer relationships	13.0	224,302		(125,049		)	99,253
Favorable lease terms	7.5	57,721		(45,436		)	12,285
Covenants not to compete and other	4.5	875		(774		)	101
		$	491,399	$	(171,259	)	$	320,140

Schedule of amortization expense

Amortization expense included in the consolidated statements of comprehensive income or loss was as follows (in thousands):

	Year ended December 31,
	2012		2011
Cost of goods sold, buying and occupancy	$	5,887	$	7,486
Selling, general and administrative expenses	23,093		35,396

Schedule of future estimated amortization expense related to intangible assets

The estimated amortization expense related to intangible assets for each of the next five years and thereafter as of December 31, 2012 was as follows (in thousands):

Year
2013	$		22,227
2014	16,387
2015	12,442
2016	9,640
2017	7,620
Thereafter	14,452
Total	$	82,768