Goodwill and Intangibles

9 Months Ended

Sep. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 3 – GOODWILL AND INTANGIBLES

Goodwill

The change in carrying amount of goodwill was as follows:


	Beginning balances as of December 31, 2013:			Goodwill from business combinations		Ending balances as of September 30, 2014:
Goodwill	$	119,332		$	1,958	$	121,290
Accumulated impairment losses		(70,004	)		—		(70,004	)

Net Goodwill	$	49,328		$	1,958	$	51,286

During the nine months ended September 30, 2014, goodwill increased $1,958 as a result of our 2014 acquisitions. See Note 11, Business Combinations, for more information. Goodwill did not change during the nine months ended September 30, 2013.

We test goodwill for impairment annually during the fourth quarter of our fiscal year or at an earlier date if there is an impairment indicator. We tested goodwill for impairment as of October 1, 2013. No impairment was recognized during either of the nine month periods ended September 30, 2014 and 2013.

Intangibles, net

The following table provides the gross carrying amount and accumulated amortization for each major class of intangibles:


	September 30,							December 31,
	2014							2013
	Gross					Net		Gross					Net
	Carrying		Accumulated			Book		Carrying		Accumulated			Book
	Amount		Amortization			Value		Amount		Amortization			Value
Amortized intangibles:
Customer relationships	$	22,419	$	(15,707	)	$	6,712	$	21,412	$	(14,403	)	$	7,009
Covenants not-to-compete		526		(250	)		276		356		(160	)		196
Trademarks and tradenames		12,281		(6,372	)		5,909		11,882		(5,687	)		6,195

	$	35,226	$	(22,329	)	$	12,897	$	33,650	$	(20,250	)	$	13,400

Among other factors, the gross carrying amount of intangibles increased $1,561 during the nine months ended September 30, 2014 as a result of our 2014 acquisitions. See Note 11, Business Combinations, for more information. Amortization expense on intangible assets totaled $693 and $757 during the three months ended September 30, 2014 and 2013, respectively, and approximately $2,104 and $2,301 for the nine months ended September 30, 2014 and 2013, respectively. Remaining estimated aggregate annual amortization expense is as follows (amounts are for the fiscal year ended):


Remainder of 2014	$	668
2015		2,627
2016		2,276
2017		1,687
2018		1,477
Thereafter		4,162

- 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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