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Goodwill And Intangible Assets
12 Months Ended
Dec. 31, 2011
Goodwill And Intangible Assets [Abstract]  
Goodwill And Intangible Assets

Note B: Goodwill and Intangible Assets

The following table shows the changes in goodwill, all of which relate to the Aggregates business, by reportable segment and in total:

 

  

 

 

 

    years ended December 31

  

Mideast

Group

    

Southeast

Group

   

West

Group

     Total  
  

 

 

 

     (add 000)

   2011  

 

 

    Balance at beginning of period

       $   122,052       $   105,870      $   398,605       $   626,527     

    Acquisitions

     ---         ---        23,941         23,941     

    Amounts allocated to divestitures

     ---         (33,797     ---         (33,797)     

 

 

    Balance at end of period

       $ 122,052       $ 72,073      $ 422,546       $ 616,671     

 

 
     2010  

 

 

    Balance at beginning of period

       $ 119,749       $ 105,870      $ 398,605       $ 624,224     

    Acquisitions

     2,303         ---        ---         2,303     

 

 

    Balance at end of period

       $ 122,052       $ 105,870      $ 398,605       $ 626,527     

 

 

In 2011, the Corporation closed three aggregates-related acquisitions for which it recognized $23,941,000 of goodwill. Additionally, in 2011, the Corporation divested of its River District operations as part of an asset exchange. Goodwill of $33,797,000 associated with this divestiture was written off.

Intangible assets subject to amortization consist of the following:

 

    December 31

   Gross
Amount
     Accumulated
Amortization
    Net
Balance
 

    (add 000)

   2011  

    Noncompetition agreements

   $ 6,984           $ (5,447   $ 1,537   

    Customer relationships

     20,160         (2,070     18,090   

    Use rights and other

     15,865         (5,307     10,558   

    Total

   $   43,009           $ (12,824   $   30,185   
      2010  

    Noncompetition agreements

   $ 9,850           $ (7,485   $ 2,365   

    Customer relationships

     3,550         (1,347     2,203   

    Use rights and other

     9,105         (5,490     3,615   

    Total

   $ 22,505           $ (14,322   $ 8,183   

Intangible assets deemed to have an indefinite life and not being amortized consist of the following:

 

    December 31

   Aggregates
Business
     Specialty
Products
     Total  

    (add 000)

   2011  

    Use rights

   $ 21,383       $ --       $   21,383   

    Trade name

     --         2,565         2,565   

    Total

   $ 21,383       $ 2,565       $ 23,948   
      2010  

    Use rights

   $ 6,800       $ --       $ 6,800   

    Trade name

     --         2,565         2,565   

    Total

   $ 6,800       $ 2,565       $ 9,365   

 

During 2011 and 2010, the Corporation acquired $38,783,000 and $7,166,000, respectively, of other intangibles for its Aggregates business, consisting of the following:

 

     Amount      Weighted-average
amortization period

     (add 000)

   2011

Subject to amortization:

     

Noncompetition agreements

   $ 180       7.0 years

Customer relationships

     16,610       11.6 years

Use rights and other

     7,410       19.5 years
     24,200       14.0 years

Not subject to amortization:

     

Use rights

     14,583       N/A

Total

   $ 38,783      
      2010

Subject to amortization:

     

Noncompetition agreements

   $ 566       9.2 years

Not subject to amortization:

     

Use rights

     6,600       N/A

Total

   $ 7,166      

Total amortization expense for intangible assets for the years ended December 31, 2011, 2010 and 2009 was $1,812,000, $1,453,000 and $1,711,000, respectively.

The estimated amortization expense for intangible assets for each of the next five years and thereafter is as follows:

 

 

    (add 000)

       

2012

   $ 3,623   

2013

     3,539   

2014

     3,245   

2015

     2,606   

2016

     2,370   

Thereafter

     14,802   

Total

   $ 30,185