Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

3. Goodwill and Intangible Assets

Goodwill represents the excess of the purchase price of all acquisitions over the estimated fair value of the net assets acquired. The Company completes an impairment test of goodwill annually as of July 1. The 2012 impairment test did not result in any impairment losses. There is no goodwill impairment for any of the periods presented in our financial statements.

The following is a rollforward of goodwill from December 31, 2012 to March 31, 2013 by reportable segment (in thousands):



	LTL		TL			TMS		Total
Goodwill balance as of December 31, 2012	$	197,456	$	202,547		$	42,140	$	442,143
Adjustments to goodwill for purchase accounting	—		(905		)	—		(905		)
Acquisition	—		429			—		429
Goodwill balance as of March 31, 2013	$	197,456	$	202,071		$	42,140	$	441,667

Intangible assets consist of customer relationships acquired from business acquisitions. Intangible assets as of March 31, 2013 and December 31, 2012 were as follows (in thousands):



	March 31, 2013							December 31, 2012
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value		Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Customer relationships - TL	$	15,994	$	(3,876	)	$	12,118	$	15,115	$	(3,430	)	$	11,685
Customer relationships - LTL	1,358		(553		)	805		1,358		(497		)	861
Customer relationships - TMS	626		(490		)	136		626		(462		)	164
Total customer relationships	$	17,978	$	(4,919	)	$	13,059	$	17,099	$	(4,389	)	$	12,710

The customer relationships intangible assets are amortized over their estimated five to ten years useful lives. Amortization expense was $0.5 million and $0.4 million for the three months ended March 31, 2013 and 2012, respectively. Estimated amortization expense for each of the next five years based on the intangible assets as of March 31, 2013 is as follows (in thousands):



	Amount
Remainder 2013	$	1,581
2014	2,088
2015	1,891
2016	1,800
2017	1,679
2018	1,415
Thereafter	2,605
Total	$	13,059

- 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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