XML 75 R11.htm IDEA: XBRL DOCUMENT

Note 4 - Goodwill, Other Intangibles and Impairments of Long-Lived Assets

12 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Text Block]

Note 4 — Goodwill, Other Intangibles and Impairments of Long-Lived Assets

Changes in the carrying amount of goodwill by reportable segment are as follows:


(In thousands)	Fluids Systems & Engineering			Mats and Integrated Services		Total

Balance at December 31, 2010	$	47,378		$	14,929	$	62,307
Acquisition		10,275			-		10,275
Effects of foreign currency		(612	)		-		(612	)
Balance at December 31, 2011		57,041			14,929		71,970
Acquisition		15,060			-		15,060
Effects of foreign currency		358			-		358
Balance at December 31, 2012	$	72,459		$	14,929	$	87,388

We have evaluated the carrying values of our goodwill and other indefinite-lived intangible assets as of November 1, 2012. We determine any impairment of goodwill by comparing the carrying amounts of our reporting units with fair values, which we estimate using a combination of a market multiple and discounted cash flow approach. In completing this evaluation, we determined that no reporting unit has a fair value below its net carrying value and therefore, no impairment was required.

Other intangible assets consist of the following:

	December 31, 2012							December 31, 2011
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Intangible assets, net		Gross Carrying Amount		Accumulated Amortization			Intangible assets, net

Technology related	$	5,421	$	(2,910	)	$	2,511	$	5,531	$	(2,607	)	$	2,924
Customer related		42,540		(10,559	)		31,981		20,675		(7,854	)		12,821
Employment related		2,327		(593	)		1,734		2,679		(2,337	)		342
Total amortizing intangible assets		50,288		(14,062	)		36,226		28,885		(12,798	)		16,087

Permits and licenses		3,941		-			3,941		3,929		-			3,929
Trademarks		851		-			851		834		-			834
Total indefinite-lived intangible assets		4,792		-			4,792		4,763		-			4,763

Total intangible assets	$	55,080	$	(14,062	)	$	41,018	$	33,648	$	(12,798	)	$	20,850

Total amortization expense in 2012, 2011 and 2010 related to other intangible assets was $3.3 million, $3.3 million and $3.1 million, respectively.

The increase in goodwill and other intangible assets in 2012 relates to the acquisition of Alliance Drilling Fluids, LLC. See “Note 5-Acquisitons” for additional details.

Estimated future amortization expense for the years ended December 31 is as follows (in thousands):

2013	$	11,006
2014		8,163
2015		5,009
2016		3,680
2017		2,871
Thereafter		5,497
Total	$	36,226

- 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.

+ References+ Details