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Goodwill and Intangibles

3 Months Ended

Mar. 31, 2013

Goodwill And Intangible Assets Disclosure [Text Block]

The changes in the carrying value of goodwill are as follows:


Goodwill as of September 30, 2012		$	61,841
	Acquisition activity		9,225
	Foreign currency adjustments		(592)
Goodwill as of March 31, 2013		$	70,474

Balances of intangibles are as follows:


		March 31,		September 30,
	Useful Lives	2013		2012
Amortizing:
Customer relationships	9-20 years	$	34,841	$	31,045
Covenants not to compete	1-5 years		450		710
Technology	11 years		5,830		5,830
Other	2-7 years		1,090		1,084
			42,211		38,669
Accumulated amortization			(8,616)		(7,640)
			33,595		31,029
Non-Amortizing:
Trade names and patents			7,590		7,677
		$	41,185	$	38,706

Amortization expense was $786 and $697 for the three months ended March 31, 2013 and 2012, respectively. Amortization expense was $1,467 and $1,435 for the six months ended March 31, 2013 and 2012, respectively. Estimated future annual amortization expense related to intangible assets as of March 31, 2013 is as follows:


	Amount
Remainder of 2013	$	1,586
2014		3,043
2015		2,741
2016		2,619
2017		2,547
Thereafter		21,059
	$	33,595

The above projection of amortization expense includes preliminary estimates of intangible assets and lives associated with the acquisition of PCI Animal Health. These amounts may be adjusted during the allocation period as defined in ASC 805.

- 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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