Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill represents the excess of the purchase price of acquired businesses over the estimated fair value of the tangible and identifiable intangible net assets acquired. Goodwill is not amortized but is periodically evaluated for impairment in accordance with FASB ASC Topic 350, which requires an annual assessment of potential goodwill impairment at the reporting unit level, which the Company completes each year in the third quarter. A reporting unit can be an operating segment or a business if discrete financial information is prepared and reviewed by management.

The following table presents changes to the carrying amount of goodwill by reportable segment during the six months ended June 30, 2014 (in thousands):



	Research		Consulting		Events			Total
Balance, December 31, 2013 (1)	$	376,568	$	100,677	$	41,958		$	519,203
Additions due to acquisitions (2)	78,675		—		—			78,675
Foreign currency translation adjustments	523		345		(15		)	853
Balance, June 30, 2014	$	455,766	$	101,022	$	41,943		$	598,731


(1)	The Company does not have any accumulated goodwill impairment losses.


(2)	The Company made three acquisitions in the six months ended June 30, 2014 (See Note 1 for additional discussion). All of the recorded goodwill from these acquisitions has been included in the Research segment.

Amortizable Intangible Assets

The following tables present reconciliations of the carrying amounts of amortizable intangible assets as of the dates indicated (in thousands):



June 30, 2014	Trade Name			Customer Relationships			Content			Software			Non-Compete			Total
Gross cost, December 31, 2013	$	6,023		10,146			3,496			2,143			$	—		$	21,808
Additions due to acquisitions (1)	915			18,013			273			5,000			7,800			32,001
Non-competition agreement (2)	—			—			—			—			1,500			1,500
Foreign currency translation adjustments	(2		)	142			(15		)	(8		)	—			117
Gross cost	6,936			28,301			3,754			7,135			9,300			55,426
Accumulated amortization (3)	(5,526		)	(9,619		)	(1,832		)	(1,558		)	(476		)	(19,011		)
Balance, June 30, 2014	$	1,410		$	18,682		$	1,922		$	5,577		$	8,824		$	36,415



December 31, 2013	Trade Name			Customer Relationships			Content			Software			Total
Gross cost	$	6,023		$	10,146		$	3,496		$	2,143		$	21,808
Accumulated amortization (3)	(4,817		)	(8,372		)	(1,388		)	(1,124		)	(15,701		)
Balance, December 31, 2013	$	1,206		$	1,774		$	2,108		$	1,019		$	6,107


(1)	See Note 1 for additional disclosure.


(2)	The non-competition intangible relates to a separation agreement with the Company's former CFO which was entered into in June 2014.


(3)	Intangible assets are being amortized against earnings over the following periods: Trade name—2 to 5 years; Customer relationships—4 to 7 years; Content—1.5 to 4 years; Software—3 years; Non-compete—4 to 5 years;

Aggregate amortization expense related to intangible assets was $2.0 million and $1.4 million for the three months ended June 30, 2014 and 2013, respectively, and $3.3 million and $2.7 million for the six months ended June 30, 2014 and 2013, respectively.

The estimated future amortization expense by year from amortizable intangibles is as follows (in thousands):



2014 (remaining six months)	$	5,060
2015	8,570
2016	7,125
2017	5,525
2018	4,330
After 2018	5,805
	$	36,415

- 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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