GOODWILL, TRADE NAMES, AND OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL, TRADE NAMES, AND OTHER INTANGIBLE ASSETS

The Company had the following acquired intangible assets:



	September 30, 2017						December 31, 2016
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(amounts in thousands)
Intangible assets subject to amortization:
Databases	$	42,909	$	17,952	$	24,957	$	31,609	$	16,147	$	15,462
Customer relationships	55,524		25,091		30,433		41,724		23,316		18,408
Non-compete agreements	3,919		3,574		345		3,619		3,527		92
Trade names	7,716		688		7,028		3,216		343		2,873
Other intangible assets, net	$	110,068	$	47,305	$	62,763	$	80,168	$	43,333	$	36,835

Intangible assets not subject to amortization:
Trade names					35,402						35,402
					$	98,165					$	72,237

As of September 30, 2017, estimated annual amortization expense is as follows:



Years Ending December 31:	(amounts in thousands)
2017	$	1,785
2018	7,168
2019	7,132
2020	7,027
2021	6,819
Thereafter	32,832
	$	62,763

The Company's carrying amount of goodwill by segment is as follows:



	Nurse And Allied Staffing Segment			Physician Staffing Segment			Other Human Capital Management Services Segment		Total
	(amounts in thousands)
Balances as of December 31, 2016
Aggregate goodwill acquired	$	304,277		$	43,405		$	9,418	$	357,100
Accumulated impairment loss	(259,732		)	(17,720		)	—		(277,452		)
Goodwill, net of impairment loss	44,545			25,685			9,418		79,648

Changes to aggregate goodwill in 2017
Goodwill acquired (a)	43,596			—			—		43,596

Balances as of September 30, 2017
Aggregate goodwill acquired	347,873			43,405			9,418		400,696
Accumulated impairment loss	(259,732		)	(17,720		)	—		(277,452		)
Goodwill, net of impairment loss	$	88,141		$	25,685		$	9,418	$	123,244

_______________

(a) Goodwill acquired from the acquisition of Advantage. See Note 3 - Acquisitions.

As of September 30, 2017, the Company performed a qualitative assessment of each of its reporting units and determined it was less-likely-than-not that the fair value of its reporting units dropped below their carrying value. As a result, management concluded that no impairment testing was warranted as of September 30, 2017. Although management believes that the Company's current estimates and assumptions are reasonable and supportable, there can be no assurance that the estimates and assumptions made for purposes of the impairment testing will prove to be accurate predictions of future performance. The Company will conduct its annual impairment test of goodwill and other indefinite-lived intangible assets in the fourth quarter of 2017.

During an evaluation of goodwill and other identified intangible assets at June 30, 2016, the Company determined that

indicators were present in the Physician Staffing reporting unit which would suggest the fair value of the reporting unit may

have declined below the carrying value. The evaluation resulted in the carrying value of goodwill and other intangible assets for Physician Staffing to exceed the estimated fair value. As a result, the Company recorded pre-tax impairment charges totaling $24.3 million with $17.7 million related to goodwill, $0.6 million related to trade names, and $6.0 million related to customer relationships.

- 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.

+ References + Details