Goodwill and Intangible assets, net

6 Months Ended

Jun. 30, 2013

Note 6. Goodwill and Intangible assets, net:

We recorded goodwill of approximately $6,038 related to the acquisition of the remaining equity interest in KSCP. There were no reductions of goodwill relating to impairments.

Intangible assets at June 30, 2013 and December 31, 2012 were as follows:


	June 30, 2013							December 31, 2012
	Gross carrying amount		Accumulated amortization			Intangible assets, net		Gross carrying amount		Accumulated amortization			Intangible assets, net
Product licensing rights	$	3,311	$	(1,768	)	$	1,543	$	3,156	$	(1,541	)	$	1,615
Product development rights		1,576		—			1,576		2,662		—			2,662

	$	4,887	$	(1,768	)	$	3,119	$	5,818	$	(1,541	)	$	4,277

Movements in intangible assets were due to the following:


	Product licensing rights			Product development rights
December 31, 2012	$	1,615		$	2,662
Acquisition of product rights		155			661
Amortization of product rights		(227	)		(1,747	)

June 30, 2013	$	1,543		$	1,576

The weighted-average period prior to the next extension or renewal for the 16 products comprising our product licensing rights intangible asset was 49 months at June 30, 2013.

We currently estimate amortization expense over each of the next five years as follows:


For the year ending:	Amortization expense
June 30, 2014	$	1,983
June 30, 2015		265
June 30, 2016		145
June 30, 2017		99
June 30, 2018		99

- 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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