Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [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. Goodwill balances are summarized as follows:



	Gross Carrying Value			Accumulated Amortization
Balance, December 31, 2014	$	3,285,689		$	(1,064,343	)
Currency translation adjustment	(55,448		)	27,033
Balance, June 30, 2015	$	3,230,241		$	(1,037,310	)

Other intangible assets consist of the following:



		June 30, 2015					December 31, 2014
	Average Life (years)	Gross Carrying Value		Accumulated Amortization			Gross Carrying Value		Accumulated Amortization
Copyrights, trademarks and other registrations	19	$	99,100	$	(73,333	)	$	99,100	$	(70,690	)
Business license	1	34,398		(34,398		)	37,193		(29,240		)
Other	19	12,600		(9,324		)	12,600		(8,988		)
		$	146,098	$	(117,055	)	$	148,893	$	(108,918	)

Amortization expense related to other intangible assets totaled approximately $3,300 and $11,100 for the quarters ended June 30, 2015 and 2014, respectively, and $10,600 and $15,700 for the six months ended June 30, 2015 and 2014, respectively. The aggregate estimated amortization expense for intangible assets remaining as of June 30, 2015 is as follows:



Remainder of 2015	$	2,978
2016	5,957
2017	5,957
2018	5,957
2019	5,957
Thereafter	2,237
	$	29,043

- 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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