Cost in Excess of Net Assets of Companies Acquired and Intangible Assets, net

12 Months Ended

Dec. 31, 2011

Goodwill and Intangible Assets Disclosure [Abstract]

Cost in Excess of Net Assets of Companies Acquired and Intangible Assets, net

Cost in Excess of Net Assets of Companies Acquired and Intangible Assets, Net

Goodwill represents the excess of the cost of an acquisition over the fair value of the assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist. As of the first day of the fourth quarters of 2011, 2010, and 2009, the company's annual impairment testing did not result in any indication of impairment.

Cost in excess of net assets of companies acquired, allocated to the company's business segments, is as follows:



	Global Components			Global ECS			Total
December 31, 2009	$	473,421		$	452,875		$	926,296
Acquisitions	197,465			221,781			419,246
Other (primarily foreign currency translation)	(15		)	(9,176		)	(9,191		)
December 31, 2010	670,871			665,480			1,336,351
Acquisitions	94,837			50,685			145,522
Other (primarily foreign currency translation)	(1,756		)	(6,784		)	(8,540		)
December 31, 2011	$	763,952		$	709,381		$	1,473,333

Intangible assets, net, are comprised of the following as of December 31, 2011:



	Weighted-Average Life	Gross Carrying Amount		Accumulated Amortization			Net
Trade names	indefinite	$	179,000	$	—		$	179,000
Customer relationships	11 years	267,729		(69,762		)	197,967
Developed technology	6 years	11,029		(693		)	10,336
Procurement agreement	5 years	12,000		(11,400		)	600
Other intangible assets	(a)	14,573		(9,713		)	4,860
		$	484,331	$	(91,568	)	$	392,763

Intangible assets, net, are comprised of the following as of December 31, 2010:



	Weighted-Average Life	Gross Carrying Amount		Accumulated Amortization			Net
Trade names	indefinite	$	130,000	$	—		$	130,000
Customer relationships	12 years	217,294		(47,336		)	169,958
Developed technology	10 years	1,700		(57		)	1,643
Procurement agreement	5 years	12,000		(9,000		)	3,000
Other intangible assets	(a)	8,099		(1,853		)	6,246
		$	369,093	$	(58,246	)	$	310,847


(a)	Consists of non-competition agreements and sales backlog with useful lives ranging from one to three years.

Amortization expense related to identifiable intangible assets was $35,359, $21,132, and $15,349 for the years ended December 31, 2011, 2010, and 2009, respectively. Amortization expense for each of the years 2012 through 2016 is estimated to be approximately $32,315, $28,802, $28,271, $27,896, and $26,265, respectively.

- 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