GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill by reportable business segments from December 31, 2013 to June 30, 2014 (in thousands):



	North America			Europe			Asia Pacific			Total
Goodwill:
Gross value at December 31, 2013	$	378,157		$	49,204		$	6,444		$	433,805
Accumulated impairment losses	(92,423		)	—			—			(92,423		)
Carrying value at December 31, 2013	285,734			49,204			6,444			341,382
Adjustments to acquisitions	(515		)	(195		)	(77		)	(787		)
Impact of currency fluctuations	(99		)	739			289			929
Carrying value at June 30, 2014	$	285,120		$	49,748		$	6,656		$	341,524

Goodwill is not subject to amortization but is subject to periodic reviews for impairment. Goodwill due to recent acquisitions has been determined on a consolidated basis and preliminarily allocated to reporting units. A formal allocation to reporting units has not yet been completed. Refer to Note 10 to our condensed consolidated financial statements for additional information on goodwill acquired.

Other Intangible Assets

Summarized below are the carrying value and accumulated amortization, if applicable, by intangible asset class (in thousands):



	June 30, 2014							December 31, 2013
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Other intangible assets:
Customer lists	$	133,058	$	(67,642	)	$	65,416	$	131,943	$	(63,564	)	$	68,379
Non-compete agreements	9,500		(6,387		)	3,113		9,436		(5,851		)	3,585
Developed technology	1,000		(1,000		)	—		1,000		(1,000		)	—
Other	8,211		(1,699		)	6,512		8,003		(1,330		)	6,673
Total other intangible assets	$	151,769	$	(76,728	)	$	75,041	$	150,382	$	(71,745	)	$	78,637

We record fees incurred in connection with our patents and trademarks in “Prepaid expenses and other current assets” in our condensed consolidated balance sheets until the patents and trademarks are granted or abandoned. We had $0.9 million of these assets recorded at each of June 30, 2014 and December 31, 2013.

At June 30, 2014, other intangible assets include $73.6 million of net intangible assets that are subject to amortization. Other intangible assets that are subject to amortization are amortized over an estimated useful life between one and 20 years. Included in the June 30, 2014 balance of "Other intangible assets" was $60.9 million of customer lists, $4.2 million of trade names and $3.1 million of non-compete agreements related to recent acquisitions. These amounts are incorporated into our preliminary valuation of assets acquired and liabilities assumed within Note 10 to our condensed consolidated financial statements. Other intangible assets with indefinite lives that are not subject to amortization include $0.4 million of domain names and $1.0 million of trademarks.

Estimated annual amortization expense of our other intangible assets for the next five years is as follows (in thousands):



Year	Estimated Annual Amortization Expense
2014	$	9,998
2015	$	10,018
2016	$	9,696
2017	$	9,017
2018	$	8,113

- 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