Intangible Assets, Goodwill And Other Assets

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Goodwill And Other Assets

9. Intangible Assets, Goodwill and Other Assets

Intangible Assets

The following table reflects the components of intangible assets being amortized at December 31, 2013 and 2012:



		December 31, 2013						December 31, 2012
	Weighted Amortization Period in Years	Gross Carrying Amount		Accumulated Amortization		Carrying Value		Gross Carrying Amount		Accumulated Amortization		Carrying Value
Refinery Services:
Customer relationships	5	$	94,654	$	76,283	$	18,371	$	94,654	$	69,167	$	25,487
Licensing agreements	6	38,678		26,055		12,623		38,678		22,892		15,786
Supplier relationships	2	—		—		—		36,469		36,469		—
Segment total		133,332		102,338		30,994		169,801		128,528		41,273
Supply & Logistics:
Customer relationships	5	35,430		28,568		6,862		35,430		26,403		9,027
Intangibles associated with lease	15	13,260		3,039		10,221		13,260		2,565		10,695
Trade names	4	—		—		—		18,888		18,888		—
Segment total		48,690		31,607		17,083		67,578		47,856		19,722
Other	5	21,356		6,505		14,851		18,932		4,862		14,070
Total		$	203,378	$	140,450	$	62,928	$	256,311	$	181,246	$	75,065

The licensing agreements referred to in the table above relate to the agreements we have with refiners to provide services. The supply and logistics lease relates to a terminal facility in Shreveport, Louisiana.

We are recording amortization of our intangible assets based on the period over which the asset is expected to contribute to our future cash flows. Generally, the contribution to our cash flows of the customer and supplier relationships, licensing agreements and trade name intangible assets is expected to decline over time, such that greater value is attributable to the periods shortly after the acquisition was made. The supply and logistics lease and other intangible assets are being amortized on a straight-line basis. Amortization expense on intangible assets was $14.6 million, $19.9 million and $30.9 million for the years ended December 31, 2013, 2012 and 2011, respectively.

The following table reflects our estimated amortization expense for each of the five subsequent fiscal years:



	2014		2015		2016		2017		2018
Refinery Services:
Customer relationships	$	5,597	$	4,405	$	3,471	$	2,737	$	2,161
Licensing agreements	2,928		2,711		2,510		2,324		2,150
Supply and Logistics:
Customer relationships	1,660		1,275		981		757		586
Intangibles associated with lease	474		474		474		474		474
Other	1,921		1,913		1,880		1,862		1,862
Total	$	12,580	$	10,778	$	9,316	$	8,154	$	7,233

Goodwill

The carrying amount of goodwill by business segment at both December 31, 2013 and 2012 was $301.9 million in refinery services and $23.1 million in supply and logistics. We have not recognized any impairment losses related to goodwill for any of the periods presented.

Other Assets

Other assets consisted of the following:



	December 31,
	2013		2012
CO₂ volumetric production payments, net of amortization	$	4,421	$	8,320
Other deferred costs and deposits	33,690		25,298
Other assets, net of amortization	$	38,111	$	33,618

The CO₂ assets are being amortized on a units-of-production method. We recorded amortization of $3.9 million in 2013, $3.8 million in 2012 and $3.7 million in 2011.

- 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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