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GOODWILL AND INTANGIBLE ASSETS
3 Months Ended
Mar. 31, 2013
GOODWILL AND INTANGIBLE ASSETS [Abstract]  
GOODWILL AND INTANGIBLE ASSETS

5. GOODWILL AND INTANGIBLE ASSETS

 

Goodwill

 

Goodwill by reportable business segments from December 31, 2012 to March 31, 2013 (in thousands):

 

    North America   Europe   Asia Pacific   Total
Goodwill:                                
Gross value at December 31, 2012   $ 364,563     $ 20,216     $ 5,417     $ 390,196  
Accumulated impairment losses     (92,423 )     -       -       (92,423 )
Carrying value at December 31, 2012     272,140       20,216       5,417       297,773  
Impact of currency fluctuations     (538 )     (870 )     6       (1,402 )
Carrying value at March 31, 2013   $ 271,602     $ 19,346     $ 5,423     $ 296,371  

 

Goodwill is not subject to amortization but is subject to periodic reviews for impairment. Adjustments to the goodwill carrying value since December 31, 2012 are due to foreign currency fluctuations against the U.S. Dollar.

 

Other Intangible Assets

 

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

 

    March 31, 2013     December 31, 2012  
    Gross
Carrying Value
    Accumulated Amortization     Net
Carrying Value
    Gross Carrying Value     Accumulated Amortization     Net Carrying Value  
Other intangible assets:                                                
Customer lists   $ 65,507     $ (60,859 )   $ 4,648     $ 65,888     $ (60,957 )   $ 4,931  
Non-compete agreements     5,717       (5,611 )     106       5,756       (5,593 )     163  
Developed technology     1,000       (1,000 )     -       1,000       (1,000 )     -  
Other     3,247       (1,025 )     2,222       3,193       (903 )     2,290  
Total other intangible assets   $ 75,471     $ (68,495 )   $ 6,976     $ 75,837     $ (68,453 )   $ 7,384  

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 $1.0 million and $0.9 million of these assets recorded at March 31, 2013 and December 31, 2012, respectively.

 

Other intangible assets include $5.7 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. Other intangible assets with indefinite lives that are not subject to amortization include $0.4 million of domain names and $0.9 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
     
2013   $ 1,528
2014   $ 1,114
2015   $ 1,110
2016   $ 850
2017   $ 850