GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

Goodwill

Goodwill consists of the following by reporting unit:

	September 30,		December 31,
Reporting Unit	2015		2014
FIN	$	16,586	$	16,586	(1)
VIP		15,858		16,129
Vapestick		15,483		15,872	(1)
GEC		8,071		8,071
Total	$	55,998	$	56,658

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⁽¹⁾ The Company’s cost basis was adjusted as of December 31, 2014 due to impairment charges.

Goodwill decreased by $660 between December 31, 2014 and September 30, 2015 due to foreign exchange translation adjustments associated with the VIP and Vapestick acquisitions.

Identifiable Intangible Assets.

Identifiable intangible assets consist of the following:

	Life (Years)		September 30, 2015							December 31, 2014
		Weighted			Accumulated			Net Book				Accumulated			Net Book
	Range	Average	Cost		Amortization			Value		Cost (1)		Amortization			Value
Customer relationships	2-10	8.2	$	33,901	$	(11,360	)	$	22,541	$	34,761	$	(7,103	)	$	27,658
Trade names	10-15	12.6		27,557		(4,132	)		23,425		28,168		(2,548	)		25,620
Internet domains and websites	10	10.0		1,116		(161	)		955		1,142		(83	)		1,059
Non-compete agreements	3	3.0		420		(169	)		251		420		(64	)		356
Total			$	62,994	$	(15,822	)	$	47,172	$	64,491	$	(9,798	)	$	54,693

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⁽¹⁾ The Company’s cost basis for certain identifiable intangible assets was adjusted as of December 31, 2014 as a result of the Company’s impairment evaluation. Accordingly, effective January 1, 2015 amortization expense was computed based on the newly established cost basis over the remaining estimated useful lives.

Amortization expense related to identifiable intangible assets amounted to $2,071 and $2,923 for the three months ended September 30, 2015 and 2014, respectively. Amortization expense related to identifiable intangible assets amounted to $6,062 and $6,412 for the nine months ended September 30, 2015 and 2014, respectively.