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GOODWILL AND INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2012
GOODWILL AND INTANGIBLE ASSETS [Abstract]  
GOODWILL AND INTANGIBLE ASSETS

5. GOODWILL AND INTANGIBLE ASSETS

 

Goodwill

 

Summarized below are the carrying values of goodwill and any changes to the carrying value of goodwill from December 31, 2011 to June 30, 2012 (in thousands):

 

    North America   Europe   Asia Pacific   Total
Goodwill:                                
Gross value at December 31, 2011   $ 363,953     $ 18,856     $ 5,304     $ 388,113  
Accumulated impairment losses     (92,423 )     -       -       (92,423 )
Carrying value at December 31, 2011     271,530       18,856       5,304       295,690  
Impact of currency fluctuations     88       69       28       185  
Carrying value at June 30, 2012   $ 271,618     $ 18,925     $ 5,332     $ 295,875  

 

Goodwill is not subject to amortization, but is subject to periodic reviews for impairment.

 

Other Intangible Assets

 

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

    June 30, 2012   December 31, 2011
    Gross
Carrying Value
  Accumulated Amortization   Net
Carrying Value
  Gross Carrying Value   Accumulated Amortization   Net Carrying Value
Other intangible assets:                                                
Customer lists   $ 65,423     $ (59,472 )   $ 5,951     $ 65,566     $ (57,682 )   $ 7,884  
Non-compete agreements     5,704       (5,382 )     322       5,701       (5,063 )     638  
Developed technology     1,000       (1,000 )     -       1,000       (1,000 )     -  
Other     3,167       (696 )     2,471       2,889       (505 )     2,384  
Total other intangible assets   $ 75,294     $ (66,550 )   $ 8,744     $ 75,156     $ (64,250 )   $ 10,906  

 

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 have $1.0 million and $1.1 million of these assets recorded as of June 30, 2012 and December 31, 2011, respectively.

 

Other intangible assets are amortized over an estimated useful life between one and 20 years. Estimated annual amortization expense related to our other intangible assets for 2012 through 2016 is as follows (in thousands):

 

Year   Estimated Annual
Amortization Expense
     
2012   $ 3,813
2013   $ 1,496
2014   $ 1,115
2015   $ 1,111
2016   $ 851