GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

May 31, 2016

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

NOTE 5 – GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in goodwill are as follows (in thousands):

	Three Months Ended May 31
	2016		2015
Balance at beginning of period	$	16,508	$	15,483
Acquisition of LoJack		50,372		-
Acquisition of Crashboxx		-		1,025
Balance at end of period	$	66,880	$	16,508

Other intangible assets are comprised as follows (in thousands):

		Gross						Accumulated Amortization						Net
	Amortization	Feb. 29,				May 31,		Feb. 29,				May 31,		May 31,		Feb. 29,
	Period	2016		Additions		2016		2016		Expense		2016		2016		2016
Supply contract	5 years	$	2,220		-	$	2,220	$	1,679	$	108	$	1,787	$	433	$	541
Developed technology	2-7 years		14,080		8,200		22,280		6,427		923		7,350		14,930		7,653
Tradenames	7-10 years		2,143		35,500		37,643		1,522		816		2,338		35,305		621
Customer lists	5-7 years		18,300		4,650		22,950		10,358		1,128		11,486		11,464		7,942
Dealer relationships	7 years		-		16,850		16,850		-		501		501		16,349		-
Covenants not to compete	5 years		170		-		170		128		9		137		33		42
Patents	5 years		273		20		293		62		5		67		226		211
		$	37,186	$	65,220	$	102,406	$	20,176	$	3,490	$	23,666	$	78,740	$	17,010

Estimated future amortization expense for the fiscal years ending February 28 is as follows (in thousands):

Fiscal Year
2017 (remainder)	$	11,590
2018		15,000
2019		11,654
2020		9,647
2021		7,824
Thereafter		23,025
	$	78,740

- 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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