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GOODWILL AND INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2012
GOODWILL AND INTANGIBLE ASSETS [Abstract]  
GOODWILL AND INTANGIBLE ASSETS

6. GOODWILL AND INTANGIBLE ASSETS

 

Goodwill by reportable business segment at December 31, 2012, 2011 and 2010 (in thousands):

 

    North
America
    Europe     Asia
Pacific
    Total  
                                 
Gross value at December 31, 2010   $ 364,457     $ 19,334     $ 5,313     $ 389,104  
Accumulated impairment losses prior to December 31, 2010     (92,423 )     -       -       (92,423 )
                                 
Carrying value at December 31, 2010     272,034       19,334       5,313       296,681  
Adjustments     (504 )     (478 )     (9 )     (991 )
                                 
Carrying value at December 31, 2011     271,530       18,856       5,304       295,690  
Adjustments     610       1,360       113       2,083  
 
Carrying value at December 31, 2012
  $ 272,140     $ 20,216     $ 5,417     $ 297,773  

 

Goodwill is not subject to amortization but is subject to periodic reviews for impairment. Adjustments to the goodwill carrying value since December 31, 2010 are due to foreign currency fluctuations against the U.S. Dollar.



Other Intangible Assets

 

Summarized below are the carrying values and accumulated amortization by intangible asset class at December 31, 2012 and 2011 (in thousands):

 

    2012     2011  
    Gross
carrying value
    Accumulated amortization     Net
carrying value
    Gross carrying value     Accumulated amortization     Net carrying value  
Other Intangible assets:                                                
Customer lists   $ 65,888     $ (60,957 )   $ 4,931     $ 65,566     $ (57,682 )   $ 7,884  
Non-compete agreements     5,756       (5,593 )     163       5,701       (5,063 )     638  
Developed technology     1,000       (1,000 )     -       1,000       (1,000 )     -  
Other     3,193       (903 )     2,290       2,889       (505 )     2,384  
Total other intangible assets   $ 75,837     $ (68,453 )   $ 7,384     $ 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 consolidated balance sheets until the patents are issued and trademarks are registered or abandoned. We had $0.9 million and $1.1 million of these assets recorded at December 31, 2012 and 2011, respectively.

 

Other intangible assets include $6.2 million of net intangible assets at December 31, 2012 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. Other intangible assets with indefinite lives that are not subject to amortization include $0.4 million of domain names and $0.8 million of trademarks. Amortization expense related to our other intangible assets for the full year 2012 was approximately $4.0 million. Estimated amortization expense for the next five years is as follows (in thousands):

 

Year   Estimated amortization
expense
     
2013   $ 1,506
2014   $ 1,113
2015   $ 1,109
2016   $    849
2017   $    849