Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2012

Goodwill and Other Intangible Assets [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The Company measures its goodwill for impairment at the end of each year or in the event of an impairment indicator. No impairment losses have been recognized as a result of this testing. See Note L for a discussion of the fair value assumptions used for assessing goodwill for impairment.

Goodwill balances are summarized as follows:



	Gross Carrying Value			Accumulated Amortization
Balance, January 1, 2011	$	3,429,940		$	(1,134,670	)
Currency translation adjustment	(16,413		)	8,002
Balance, December 31, 2011	3,413,527			(1,126,668		)
Currency translation adjustment	21,778			(10,617		)
Balance, December 31, 2012	$	3,435,305		$	(1,137,285	)

At December 31, 2012 and 2011, other intangible assets consist of the following:



	2012						2011
	Average Life (years)	Gross Carrying Value		Accumulated Amortization			Average Life (years)	Gross Carrying Value		Accumulated Amortization
Copyrights, trademarks and other registrations	19	$	99,100	$	(60,119	)	19	$	99,100	$	(54,834	)
Other	19	12,600		(7,644		)	19	12,600		(6,972		)
		$	111,700	$	(67,763	)		$	111,700	$	(61,806	)

Amortization expense related to other intangible assets totaled approximately $6,000 for the years ended December 31, 2012 and 2011. The aggregate estimated amortization expense for other intangible assets is as follows:



Year ended December 31,
2013	$	5,957
2014	5,957
2015	5,957
2016	5,957
2017	5,957
Thereafter	14,152
	$	43,937

- 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