Intangible Assets

12 Months Ended

Sep. 30, 2012

Finite-Lived Intangible Assets [Abstract]

Intangible Assets

Intangible Assets

During 2012 we acquired intangible assets from ADP, Inc. and accounted for this as an acquisition of assets because the acquired assets did not constitute a business according to the definition of a business under ASC Topic 805, Business Combinations. We recorded the total acquisition costs, including cash payments for the acquired assets and the related transaction costs, of $67.3 million as an intangible asset. This amount has been assigned to customer relationships because the intangible asset consists of a large number of customer contracts for our travel and expense management services that were previously resold to small-to-medium sized businesses by ADP, Inc. under a reseller agreement between us and ADP, Inc.  These customer contracts typically have an initial term of one year or less with automatic renewal, subject to the right of either party to terminate the contract with prior written notice. The acquired intangible asset has an estimated useful life of nine years, based primarily on our analysis of the historical attrition data for the underlying customer contracts over the past 12 years.

The following table presents the components of our intangible assets as of September 30, 2012 and 2011:

	September 30, 2012							September 30, 2011
Description	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trade name and trademarks	$	3,125	$	(878	)	$	2,247	$	2,926	$	(457	)	$	2,469
Technology	25,396		(18,093		)	7,303		24,848		(13,117		)	11,731
Customer relationships	126,123		(29,778		)	96,345		57,995		(17,016		)	40,979
Total	$	154,644	$	(48,749	)	$	105,895	$	85,769	$	(30,590	)	$	55,179

The related amortization expense reflected in our consolidated statements of operations for 2012, 2011, and 2010, was $18.2 million, $10.1 million, and $7.2 million.

The following table outlines the estimated future amortization expense related to intangible assets held at September 30, 2012:

Year Ended September 30,	Amortization of Intangible Assets
2013	$	17,392
2014	15,952
2015	15,845
2016	13,491
2017	12,004
Thereafter	31,211
Total	$	105,895