Intangible Assets

9 Months Ended

Sep. 30, 2011

Intangible Assets

The amount of identified intangible assets, including the respective amounts of accumulated amortization, are as follows:


	September 30,			December 31,
	2011			2010

Database	$	12,822,000		$	11,395,000
Accumulated amortization		(9,152,000	)		(7,374,000	)

Database, net		3,670,000			4,021,000

Customer relationships		14,100,000			14,100,000
Accumulated amortization		(4,214,000	)		(3,470,000	)

Customer relationships, net		9,886,000			10,630,000

Web site		6,102,000			5,173,000
Accumulated amortization		(3,499,000	)		(2,941,000	)

Web site, net		2,603,000			2,232,000

Acquired below market lease		2,800,000			2,800,000
Accumulated amortization		(1,333,000	)		(1,106,000	)

Acquired below market lease, net		1,467,000			1,694,000

Intangible assets, net	$	17,626,000		$	18,577,000

The Company capitalized approximately $512,000 and $383,000 during the three months ended September 30, 2011 and 2010, respectively, and $1,427,000 and $949,000 during the nine months ended September 30, 2011 and 2010, respectively, to the database intangible asset. The Company capitalized approximately $421,000 and $351,000 during the three months ended September 30, 2011 and 2010, respectively, and $1,171,000 and $936,000 during the nine months ended September 30, 2011 and 2010, respectively, to the web site intangible asset.

Amortization expense for intangible assets aggregated approximately $1,232,000 and $3,549,000 for the three and nine months ended September 30, 2011, of which approximately $601,000 and $1,778,000 related to the database, which is charged to cost of sales, approximately $247,000 and $744,000 related to customer relationships, which is charged to sales and marketing expense, approximately $308,000 and $800,000 related to web site development, which is charged to product development expense, and approximately $76,000 and $227,000 related to the value ascribed to the below market terms of the office lease, which is charged to general and administrative expense, all in the Reis Services segment. Amortization expense for intangible assets aggregated approximately $1,030,000 and $3,297,000 for the three and nine months ended September 30, 2010, of which approximately $526,000 and $1,681,000 related to the database, approximately $250,000 and $751,000 related to customer relationships, approximately $178,000 and $638,000 related to web site development, and approximately $76,000 and $227,000 related to the value ascribed to the below market terms of the office lease.

- 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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