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Goodwill and Other Asset Impairments
12 Months Ended
Dec. 31, 2013
Goodwill and Other Asset Impairments

4. Goodwill and Other Asset Impairments

In accordance with the Financial Accounting Standards Board’s accounting standards codification, the Company evaluated the realizability of its tangible assets and determined based on market place property comparables (level two of the fair value hierarchy) that a valuation impairment charge of $2.1 million was necessary against the cost of its Hopland California facility at September 30, 2012. Additionally, the Company performed impairment analyses of goodwill and other intangibles using the discounted cash flows method and write-offs of $19.7 million of goodwill and $200,000 of other intangibles were made at September 30, 2012. The Company estimated the fair value of its business for the goodwill impairment analysis based on the quoted market price for its Class A common stock (level one input of the fair value hierarchy), as adjusted by management’s judgmental qualitative factors (level three of the fair value hierarchy). These noncash impairments were necessitated by the trading price of the Company’s Class A common stock, recent operating losses, and financial forecasts. The $22.0 million of noncash impairment charges are reported in goodwill and other asset impairments on the consolidated statement of operations for the year ended December 31, 2012.