Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2012

Intangible Assets and Goodwill [Abstract]

INTANGIBLE ASSETS AND GOODWILL

(7) INTANGIBLE ASSETS AND GOODWILL

Under the purchase method of accounting, we allocated the fair value of the total consideration expected to be transferred, to the tangible and identifiable intangible assets acquired from Source Loop in June 2010, based on their estimated fair values on the date of acquisition. The fair values assigned to the identifiable intangible assets were based on estimates and assumptions determined by management. The table below summarizes the fair values assigned to the identifiable intangible assets by asset class at the time of acquisition, and the subsequent amortization through March 31, 2012 of those intangible assets.

Amortization of Intangible Assets Acquired in Source Loop Acquisition

(In 000s except weighted avg life in years)

Intangible Asset Class	Weighted Avg Life Years		FMV at Acquisition Date		Current Year Amortization		Accumulated Amortization at 3/31/12		Net Value by Asset Class at 3/31/12
Customer Contracts		3	$	526	$	22	$	212	$	314
Customer Relationships		3		260		10		133		127
Key Employee Agreements		1		177		11		107		70
Other		1		30		1		22		8
Sub-Total Intangibles Subject to Amortization		3		993	$	44	$	474	$	519
Goodwill				336
Total Intangible Assets Acquired			$	1,329
Expected Future Amortization
Intangible Asset Class	Q2-Q4 2012		2013		2014		2015		2016
Customer Contracts	$	66	$	67	$	60	$	51	$	42
Customer Relationships		32		31		25		19		15
Key Employee Agreements		31		39		0		0		0
Other		4		3		1		0		0
Sub-Total Intangibles Subject to Amortization	$	133	$	140	$	86	$	70	$	57

Goodwill represents the excess of the purchase price paid over the fair value of assets acquired. Goodwill is not amortized and is subject to an impairment test conducted in December of each year, or more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists. Through March 31, 2012, there has been no impairment of goodwill associated with the Source Loop acquisition.