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Note 5 - Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2013
Goodwill and Intangible Assets Disclosure [Text Block]  
Goodwill and Intangible Assets Disclosure [Text Block]

 (5)             Goodwill and Intangible Assets


Goodwill at December 31, 2012 and June 30, 2013 consists of the following (in thousands):


   

December 31,

   

June 30,

 
   

2012

   

2013

 

Balance at beginning of period

  $ 300,260     $ 370,143  

Goodwill acquired during the period

    60,374        

Adjustments to prior year acquisitions

    7,109       (486 )

Effect of foreign currency translation

    2,400       (10,046 )

Balance at end of period

  $ 370,143     $ 359,611  

Intangible assets at December 31, 2012 and June 30, 2013, consist of the following (in thousands):


 

 

 

 

 

 

December 31, 2012 

 

 

Estimated

useful lives

(months) 

 

 

Gross

carrying

amount 

 

 

Accumulated

amortization 

 

 

Net

carrying

value 

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

40

to

60

 

 

$

204,699

 

 

$

(90,040)

 

 

$

114,659

 

Tradenames

45

to

84

 

 

 

60,620

 

 

 

(24,413)

 

 

 

36,207

 

Covenants not to compete

 

36

 

 

 

 

3,116

 

 

 

(2,313)

 

 

 

803

 

Technology

24

to

40

 

 

 

7,530

 

 

 

(6,303)

 

 

 

1,227

 

Totals

 

 

 

 

 

$

275,965

 

 

$

(123,069)

 

 

$

152,896

 


 

 

 

 

 

 

June 30, 2013 

 

 

Estimated

useful lives

(months) 

 

 

Gross

carrying

amount 

 

 

Accumulated

amortization 

 

 

Net

carrying

value 

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

40

to

60

 

 

$

196,666

 

 

$

(110,045)

 

 

$

86,621

 

Tradenames

45

to

84

 

 

 

58,446

 

 

 

(29,788)

 

 

 

28,658

 

Covenants not to compete

 

36

 

 

 

 

3,050

 

 

 

(2,566)

 

 

 

484

 

Technology

24

to

40

 

 

 

7,327

 

 

 

(6,881)

 

 

 

446

 

Totals

 

 

 

 

 

$

265,489

 

 

$

(149,280)

 

 

$

116,209

 

The aggregate intangible amortization expense was $12.4 million and $25.2 million for the three and six months ended June 30, 2012, respectively. The aggregate intangible amortization expense was $14.5 million and $29.4 million for the three and six months ended June 30, 2013, respectively.


The estimated future amortization expense of intangible assets is as follows (in thousands):


   

Amount

 
         

Six months ended December 31, 2013

  $ 26,993  

Year ended December 31:

       

2014

    37,391  

2015

    28,178  

2016

    14,954  

2017

    8,279  

Thereafter

    414  

Total

  $ 116,209