Intangible Assets

6 Months Ended

Jun. 30, 2011

Intangible Assets [Abstract]

Intangible Assets

9. Intangible Assets

We review definite-lived intangible assets for recoverability whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. If the estimated undiscounted cash flows are less than the carrying amount of such assets, we recognize an impairment loss in an amount necessary to write down the assets to fair value as estimated from expected future discounted cash flows. Estimating the fair value of these assets is judgmental in nature and involves the use of significant estimates and assumptions. We base our fair value estimates on assumptions we believe to be reasonable, but that are inherently uncertain.

Our intangible assets were comprised of the following (in thousands):

June 30, 2011

December 31, 2010

Amortization

Gross Carrying

Accumulated

Net Carrying

Amortization

Gross Carrying

Accumulated

Net Carrying

Period

Amount

Amortization

Amount

Period

Amount

Amortization

Amount

Definite-lived intangible assets:

Trademarks/Tradenames

22 years

$

8,776

$

(1,997

)

$

6,779

20 years

$

5,655

$

(1,807

)

$

3,848

We recorded approximately $3.1 million in definite-lived intangible assets (tradenames) with a useful life of 30 years in connection with the Bostrom acquisition.

The aggregate intangible asset amortization expense was approximately $94 thousand and $60 thousand for the three months ended June 30, 2011 and 2010, respectively, and approximately $190 thousand and $120 thousand for the six months ended June 30, 2011 and 2010, respectively.

The estimated intangible asset amortization expense for the fiscal year ending December 31, 2011, and for the five succeeding years is as follows (in thousands):

Fiscal Year Ended	Estimated
December 31,	Amortization Expense
2011	$	335
2012	$	344
2013	$	344
2014	$	344
2015	$	344
2016	$	344