2.2.0.7 false Goodwill and Intangible Assets, net 0210 - Disclosure - Goodwill and Intangible Assets, net true false false false 1 USD false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Goodwill and Intangible Assets, net [Abstract] 0 praa_GoodwillAndIntangibleAssetsNetAbstract praa false na duration Goodwill and Intangible Assets, net. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string Goodwill and Intangible Assets, net. false 3 Goodwill and Intangible Assets, net 1 us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>10. Goodwill and Intangible Assets, net:</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     In connection with the Company’s business acquisitions, the Company purchased certain tangible and intangible assets. Intangible assets purchased included client and customer relationships, non-compete agreements, trademarks and goodwill. In accordance FASB ASC Topic 350 “Intangibles-Goodwill and Other” (“ASC 350”), the Company is amortizing the following intangible assets over the estimated useful lives as indicated: </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="52%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000">Acquisition Date</td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000">Customer Relationships</td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000">Non-Compete Agreements</td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000">Trademarks</td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">IGS </div></td> <td> </td> <td colspan="3" align="right" nowrap="nowrap">October 1, 2004</td> <td> </td> <td colspan="3" align="center">7 years</td> <td> </td> <td colspan="3" align="center">3 years <sup style="font-size: 85%; vertical-align: text-top">(1)</sup></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">RDS <sup style="font-size: 85%; vertical-align: text-top">(2)</sup> </div></td> <td> </td> <td colspan="3" align="right">July 29, 2005</td> <td> </td> <td colspan="3" align="center">10 years</td> <td> </td> <td colspan="3" align="center">3 years <sup style="font-size: 85%; vertical-align: text-top">(1)</sup></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">The Palmer Group <sup style="font-size: 85%; vertical-align: text-top">(2)</sup> </div></td> <td> </td> <td colspan="3" align="right">July 25, 2007</td> <td> </td> <td colspan="3" align="center">2.4 years</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">MuniServices <sup style="font-size: 85%; vertical-align: text-top">(2)</sup> </div></td> <td> </td> <td colspan="3" align="right">July 1, 2008</td> <td> </td> <td colspan="3" align="center">11 years</td> <td> </td> <td colspan="3" align="center">3 years</td> <td> </td> <td colspan="3" align="center">14 years</td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">BPA <sup style="font-size: 85%; vertical-align: text-top">(2)</sup> </div></td> <td> </td> <td colspan="3" align="right">August 1, 2008</td> <td> </td> <td colspan="3" align="center">10 years</td> <td> </td> <td colspan="3" align="center">2.4 years</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">CCB </div></td> <td> </td> <td colspan="3" align="right">March 15, 2010</td> <td> </td> <td colspan="3" align="center">4-7 years</td> <td> </td> <td colspan="3" align="center">3 years</td> <td> </td> <td colspan="3" align="center">14 years</td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Tax Return, Inc. <sup style="font-size: 85%; vertical-align: text-top">(2)</sup> </div></td> <td> </td> <td colspan="3" align="right">June 11, 2010</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td colspan="3" align="center">3.5 years</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(1)</td> <td> </td> <td>These intangible assets are fully amortized with no expense recognized in the current period.</td> </tr> <tr style="font-size: 3pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(2)</td> <td> </td> <td>Operates as part of the Company’s government services group.</td> </tr> </table> <div align="left" style="font-size: 10pt; margin-top: 6pt">     The combined original weighted average amortization period is 8.1 years. The Company reviews these assets at least annually for impairment. Total amortization expense was $1,418,211 and $2,256,275 for the three and six months ended June 30, 2010, respectively. Total amortization expense was $668,277 and $1,336,554 for the three and six months ended June 30, 2009, respectively. In addition, goodwill, pursuant to ASC 350, is not amortized but rather is reviewed at least annually for impairment. During the fourth quarter of 2009, the Company underwent its annual review of goodwill. Based upon the results of this review, which was conducted as of October 1, 2009, no impairment charges to goodwill or the other intangible assets were necessary as of the date of this review. The Company believes that nothing has occurred since the review was performed through June 30, 2010 that would indicate a triggering event and thereby necessitate an impairment charge to goodwill or the other intangible assets. The Company will undergo its next annual goodwill review during the fourth quarter of 2010. At June 30, 2010 and December 31, 2009, the carrying value of goodwill was $61.7 million and $29.3 million, respectively. The $32.4 million increase in the carrying value of goodwill during the six months ended June 30, 2010 mainly relates to the purchase of CCB on March 15, 2010 (see Note 8) and additional contingent purchase price of $5.0 million paid in stock relating to the achievement of the earn-out provisions of the MuniServices acquisition. </div> </div>  <!-- Begin Block Tagged Note false false false us-types:textBlockItemType textblock Discloses 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 or 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. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 42, 43, 44, 45, 46, 47 false 1 2 false UnKnown UnKnown UnKnown false true