XML 48 R32.htm IDEA: XBRL DOCUMENT v3.4.0.3
INTANGIBLE ASSETS AND GOODWILL (Tables)
12 Months Ended
Feb. 29, 2016
Intangible Assets And Goodwill [Line Items]  
Summary of intangible impairment by assessment period
We will perform additional interim impairment assessments whenever triggering events suggest such testing for the recoverability of these assets is warranted.
 
 
Annual Assessment
 
 
 
FCC Licenses
 
Goodwill
 
Definite-lived
 
Total
Year Ended February 28, 2014

 

 

 

Year Ended February 28, 2015
9,520

 
58,395

 

 
67,915

Year Ended February 29, 2016
5,440

 
695

 
3,364

 
9,499

Assumptions used in valuation of indefinite-lived intangibles
 
 
December 1, 2013
 
December 1, 2014
 
December 1, 2015
Discount Rate
12.0% - 12.4%
 
12.1% - 12.5%
 
12.0% - 12.4%
Long-term Revenue Growth Rate
2.3% - 3.1%
 
1.5% - 3.0%
 
1.3% - 2.5%
Mature Market Share
3.5% - 30.2%
 
3.2% - 29.2%
 
3.2% - 29.3%
Operating Profit Margin
25.0% - 39.1%
 
25.1% - 39.2%
 
25.0% - 39.1%
Fcc license agreement rollforward
 
 
 
Change in FCC License Carrying Values
Unit of Accounting
 
As of February 28, 2014
 
Purchase
 
Impairment
 
 
As of February 28, 2015
 
Purchase
 
Impairment
 
As of February 29, 2016
New York Cluster
 
$
2,597

 
$
69,019

 
$

 
 
$
71,616


$

 
$

 
$
71,616

98.7FM (New York)
 
60,525

 

 
(9,462
)
 
 
$
51,063

 

 
(1,766
)
 
49,297

Austin Cluster
 
39,255

 

 

 
 
$
39,255

 

 
(2,343
)
 
36,912

St. Louis Cluster
 
27,692

 

 

 
 
$
27,692

 

 
(1,293
)
 
26,399

Indianapolis Cluster
 
17,654

 

 

 
 
$
17,654

 
512

 

 
18,166

KPWR-FM (Los Angeles)
 
2,018

 

 

 
 
$
2,018

 

 

 
2,018

Terre Haute Cluster
 
817

 

 
(58
)
 
 
$
759

 

 
(38
)
 
721

  Total
 
$
150,558

 
$
69,019

 
$
(9,520
)
 
 
$
210,057

 
$
512

 
$
(5,440
)
 
$
205,129

Goodwill rollforward
 
 
Change in Goodwill Carrying Values
Reporting Unit
As of February 28, 2014
 
Acquisitions
 
Impairment
 
 
As of February 28, 2015
 
 
Impairment
 
As of February 29, 2016
New York Cluster (Radio)
$

 
$
58,395

 
$
(58,395
)
 
 
$

 
 
$

 
$

Indianapolis Cluster (Radio)
265

 

 

 
 
265

 
 

 
265

Austin Cluster (Radio)
4,338

 

 

 
 
4,338

 
 

 
4,338

Texas Monthly
8,036

 

 

 
 
8,036

 
 

 
8,036

Digonex

 
2,753

 

 
 
2,753

 
 
(695
)
 
2,058

Total
$
12,639


$
61,148

 
$
(58,395
)


$
15,392

 
 
$
(695
)
 
$
14,697

Summary of definite-lived intangible assets
The following table presents the weighted-average remaining useful life at February 29, 2016 and gross carrying amount and accumulated amortization for each major class of definite-lived intangible assets at February 28 (29), 2015 and 2016:
 
 
 
 
As of February 28, 2015
 
As of February 29, 2016
 
Weighted 
Average
Remaining Useful Life
(in years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
Trademarks
6.7
 
$
1,240

 
$
585

 
$
655

 
$
1,240

 
$
727

 
$
513

Patents
5.5
 
5,180

 
401

 
4,779

 
1,815

 
1,141

 
674

Programming Contract
5.6
 
2,154

 
220

 
1,934

 
2,154

 
514

 
1,640

Customer List
1.4
 
1,015

 
205

 
810

 
1,015

 
543

 
472

  Total
 
 
$
9,589

 
$
1,411

 
$
8,178

 
$
6,224

 
$
2,925

 
$
3,299

Expected amortization of definite-lived intangibles
The following table presents the Company's estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangibles:
Year ended February 28 (29),
 
Expected Amortization Expense
 
 
(in 000's)
2017
 
896

2018
 
691

2019
 
503

2020
 
457

2021
 
457