Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

7. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill and other intangible assets consist of the following:


(In thousands) Other intangible assets, net	Transportation			Federal			Total
Balance, January 1, 2012	$	11,243		$	11,664		$	22,907
Less: Amortization		(5,475	)		(4,667	)		(10,142	)

Balance, December 31, 2012		5,768			6,997			12,765
Less: Amortization		(1,409	)		(1,672	)		(3,081	)

Balance, June 30, 2013	$	4,359		$	5,325		$	9,684


(In thousands) Goodwill	Transportation			Federal			Total
Balance, January 1, 2012, December 31, 2012 and June 30, 2013	$	59,334		$	22,264		$	81,598

The Company’s goodwill balance is not being amortized and goodwill is assessed for impairment at least annually. The Company performed its annual assessment of the carrying value of its goodwill during the second quarter. Based on this assessment, the Company concluded that it is not more likely than not that the fair value of the reporting units is less than the carrying value.

The following tables summarize the Company’s other intangible assets balance as of June 30, 2013 and December 31, 2012:


(In thousands)	Acquisition Date Fair Value		Accumulated Amortization			Carrying Value
June 30, 2013
Project backlog	$	16,459	$	(15,955	)	$	504
Customer contracts and related relationships		15,460		(6,588	)		8,872
Non-compete agreements		3,671		(3,465	)		206
Trademark/trade name		1,110		(1,008	)		102

*Total*	$	36,700	$	(27,016	)	$	9,684


(In thousands)	Acquisition Date Fair Value		Accumulated Amortization			Carrying Value
December 31, 2012
Project backlog	$	16,459	$	(15,764	)	$	695
Customer contracts and related relationships		15,460		(4,030	)		11,430
Non-compete agreements		3,671		(3,233	)		438
Trademark/trade name		1,110		(908	)		202

*Total*	$	36,700	$	(23,935	)	$	12,765

These identifiable intangible assets with finite lives are being amortized on a basis approximating the economic value derived from these assets and will be fully amortized as disclosed in the following amortization table. Amortization expense recorded on the other intangible assets balance was $1.6 million and $3.1 million for the three and six months ended June 30, 2013, respectively, and $2.5 million and $5.3 million for the three and six months ended July 1, 2012, respectively.

Estimated future amortization expense for other intangible assets as of June 30, 2013 is as follows:


(In thousands)
For the six months ending December 31, 2013	$	3,054
Fiscal year 2014		3,936
Fiscal year 2015		1,244
Fiscal year 2016		701
Fiscal year 2017 and beyond		749

*Total*	$	9,684

- 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.

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