Goodwill and Intangible Assets Level 1 (Notes)

9 Months Ended

Nov. 30, 2014

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets

The change in goodwill by segment is as follows:



Automotive:	Amount
Beginning balance at March 1, 2014	$	71,405
Currency translation	(5,992		)
Balance at November 30, 2014	$	65,413

Gross carrying amount at November 30, 2014	$	65,413
Accumulated impairment charge	—
Net carrying amount at November 30, 2014	$	65,413

Premium Audio:
Beginning balance at March 1, 2014	$	46,533
Activity during the period	—
Balance at November 30, 2014	$	46,533

Gross carrying amount at November 30, 2014	$	78,696
Accumulated impairment charge	(32,163		)
Net carrying amount at November 30, 2014	$	46,533

Total Goodwill, net	$	111,946

Note: The Company's Consumer Accessories segment did not carry a goodwill balance at November 30, 2014 or February 28, 2014.

At November 30, 2014, intangible assets consisted of the following:



	Gross Carrying Value		Accumulated Amortization		Total Net Book Value
Finite-lived intangible assets:
Customer relationships (5-20 years)	$	65,541	$	19,123	$	46,418
Trademarks/Tradenames (3-12 years)	415		382		33
Patents (5-10 years)	9,599		3,381		6,218
License (5 years)	1,400		1,400		—
Contract (5 years)	1,556		1,541		15
Total finite-lived intangible assets	$	78,511	$	25,827	52,684
Indefinite-lived intangible assets
Trademarks					113,083
Total net intangible assets					$	165,767

At February 28, 2014, intangible assets consisted of the following:



	Gross Carrying Value		Accumulated Amortization		Total Net Book Value
Finite-lived intangible assets:
Customer relationships (5-20 years)	$	68,231	$	16,381	$	51,850
Trademarks/Tradenames (3-12 years)	415		377		38
Patents (5-10 years)	10,357		2,879		7,478
License (5 years)	1,400		1,400		—
Contract (5 years)	1,556		1,474		82
Total finite-lived intangible assets	$	81,959	$	22,511	59,448
Indefinite-lived intangible assets
Trademarks					114,864
Total net intangible assets					$	174,312

The Company recorded amortization expense of $1,373 and $1,453 for the three months ended November 30, 2014 and 2013, respectively, and $4,194 and $4,329 for the nine months ended November 30, 2014 and 2013, respectively. The estimated aggregate amortization expense for all amortizable intangibles for each of the succeeding years ending November 30, 2019 is as follows:



Fiscal Year		Amount
2016		5,625
2017		5,598
2018		5,567
2019		5,383
2020		5,367

We evaluate the carrying value of long-lived assets, including intangible assets subject to amortization, when events and circumstances warrant such a review. The carrying value of long-lived assets is considered impaired when the estimated undiscounted cash flows from such assets are less than their carrying value. In that event, a loss is recognized equal to the amount by which the carrying value exceeds the fair value of the long-lived assets. Fair value is determined by primarily using a discounted cash flow methodology that requires considerable management judgment and long-term assumptions. During the third quarter of Fiscal 2015, the Company re-evaluated its projections for certain tradenames with a carrying value of $15,336. Accordingly, this action was deemed to be a triggering event for an evaluation of the recoverability of these tradenames as of November 30, 2014. The Company performed an interim impairment test for these tradenames, and determined that there was no impairment as of November 30, 2014. Our estimate of net future cash flows is based on historical experience and assumptions of future trends, which may be different from actual results. We periodically review the appropriateness of the estimated useful lives of our long-lived assets.

- 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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