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Intangible Assets
6 Months Ended
Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets
Intangible Assets
Indefinite-lived intangible assets are tested and reviewed annually for impairment during the fourth quarter or whenever there is a significant change in events or circumstances that indicate that the fair value of the asset may be less than the carrying amount of the asset. All other intangible assets with finite useful lives are being amortized on a straight-line basis over their estimated useful lives.
The following table sets forth the gross amount and accumulated amortization of the Company's intangible assets at June 30, 2015 and December 31, 2014:
 
June 30, 2015
 
 
December 31, 2014
In thousands
Gross Carrying Amount
 
Accumulated Amortization
 
Net
 
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net
Technology
$
63,726

 
$
(17,559
)
 
$
46,167

 
 
$
63,726

 
$
(14,902
)
 
$
48,824

Customer relationships
81,082

 
(15,304
)
 
65,778

 
 
76,242

 
(12,735
)
 
63,507

Loan acquisition costs
41,100

 
(20,158
)
 
20,942

 
 
40,612

 
(14,447
)
 
26,165

Other
19,071

 
(2,740
)
 
16,331

 
 
7,104

 
(1,601
)
 
5,503

Tradenames (indefinite-lived)
33,355

 

 
33,355

 
 
34,912

 

 
34,912

Total
$
238,334

 
$
(55,761
)
 
$
182,573

 
 
$
222,596

 
$
(43,685
)
 
$
178,911


As of June 30, 2015, the Company had recorded intangible assets of $182.6 million, which includes amounts associated with loan acquisition costs. These expenditures represent the cost of obtaining financings that are capitalized in the balance sheet and amortized over the term of the loans to which such costs relate.
On June 4, 2015, the Company announced a new corporate brand and identity initiative to better reflect the Company's purpose and its impact on the world. As part of the initiative, the Company changed its legal name from Polymer Group, Inc. to AVINTIV Specialty Materials Inc. As a result, the Company determined that the $1.6 million indefinite-lived intangible asset related to the Polymer Group, Inc. tradename was no longer considered indefinite and therefore, classified as finite-lived during the second quarter. The tradename will be fully amortized by December 31, 2015, the estimated remaining economic life. In addition, as a result of the acquisition of Dounor, the Company allocated a portion of the purchase price to finite-lived intangible assets for patents and customer relationships. Refer to Note 4, "Acquisitions" for further information on the acquisition of Dounor.
The following table presents amortization of the Company's intangible assets for the following periods:
In thousands
Three Months
Ended
June 30,
2015
 
Three Months
Ended
June 28,
2014
 
Six Months
Ended
June 30,
2015
 
Six Months
Ended
June 28,
2014
Intangible assets
$
3,683

 
$
2,547

 
$
6,447

 
$
5,164

Loan acquisition costs
1,586

 
1,274

 
3,240

 
2,300

Total
$
5,269

 
$
3,821

 
$
9,687

 
$
7,464


Estimated amortization expense on existing intangible assets for each of the next five years is expected to approximate $18 million in 2015, $18 million in 2016, $18 million in 2017, $18 million in 2018 and $18 million in 2019.