Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2015

Goodwill and Other Intangible Assets [Abstract]

Note 7

Goodwill and Other Intangible Assets:

Goodwill reflects the value or premium of the acquisition price in excess of the fair values assigned to specific tangible and intangible assets in a business combination transaction. Goodwill has an indefinite useful life and therefore is not amortized as an expense, but is reviewed at least annually for impairment of its fair value to the Company. The purchase price intrinsically recognizes the benefits of the broadened depth of the management team. Furthermore, the purchase price paid by Radiancy, Inc., a private company, included, among other things, other benefits such as the intrinsic value of being a Nasdaq-listed issuer post-merger and now having access to capital markets and stockholder liquidity.

Balance at January 1, 2015	$	20,906
Translation differences		170
Balance at June 30, 2015	$	21,076

The Company has no accumulated impairment losses of goodwill related to the continuing operations as of June 30, 2015. See Note 2 regarding impairment of goodwill allocated to the discontinued operations.

Set forth below is a detailed listing of other finite-lived intangible assets:

	June 30, 2015									December 31, 2014
	(unaudited)
	Trademarks			Customer Relationships			Total			Trademarks			Customer Relationships			Total
Gross amount beginning of period	$	3,592		$	4,688		$	8,280		$	3,672		$	4,816		$	8,488
Translation differences		13			22			35			(80	)		(128	)		(208	)
Gross amount end of period		3,605			4,710			8,315			3,592			4,688			8,280

Accumulated amortization		(1,277	)		(1,668	)		(2,945	)		(1,092	)		(1,426	)		(2,518	)

Net Book Value	$	2,328		$	3,042		$	5,370		$	2,500		$	3,262		$	5,762

Related amortization expense was $415 and $427 for the six months ended June 30, 2015 and 2014, respectively. Customer Relationships embody the value to the Company of relationships that PhotoMedex had formed with its customers. Trademarks include the tradenames and various trademarks associated with PhotoMedex products (e.g. "Neova" "Omnilux" and "Lumiere").

Estimated amortization expense for the above amortizable intangible assets for the future periods is as follows:

Last six months of 2015	$	416
2016		832
2017		832
2018		832
2019		832
Thereafter		1,626
Total	$	5,370

- 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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