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Intangible Assets, Goodwill and Other
3 Months Ended
Dec. 31, 2011
Intangible Assets, Goodwill and Other  
Goodwill and Intangible Assets Disclosure [Text Block]

5.  GOODWILL AND INTANGIBLES

 

Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses.  Goodwill is not subject to systematic amortization, but rather is tested for impairment annually or whenever events and circumstances indicate that an impairment may have occurred.  The Company has chosen the first day of the last quarter of its fiscal year as the date to perform its annual goodwill impairment test.

          The Company has no intangible assets with indefinite useful lives.  It does have other intangible assets which are being amortized.  The following table summarizes the changes in the Company’s goodwill and other intangibles for the three months and nine months December 31, 2011 and 2010:

 

 

 

Goodwill

 

Amortizable Intangibles

 

 

 

Other

Regions

Segment

 

Customer

Relationship

Intangible

 

Production

and Supply

Contract

Intangibles

 

Internally

Developed

Software

Intangible

 

Total

Weighted average remaining useful

    life in years as of March 31, 2011

 

 

14  

 

 

 

 

March 31, 2010 balance:

 

 

 

 

 

 

 

 

 

 

    Gross carrying amount

 

$ 2,794 

 

$ 33,700  

 

$   7,893 

 

$ 14,459 

 

$ 58,846 

    Accumulated amortization

 

 

       (8,214) 

 

(1,452)

 

(4,189)

 

(13,855)

Net March 31, 2010

 

2,794 

 

25,486  

 

6,441 

 

10,270 

 

44,991 

    Amortization expense

 

 

          (421) 

 

(47)

 

(696)

 

(1,164)

Net June 30, 2010

 

2,794 

 

25,065  

 

6,394 

 

9,574 

 

43,827 

    Additions

 

 

-  

 

 

251 

 

251 

    Amortization expense

 

 

         (422) 

 

(22)

 

(740)

 

(1,184)

Net September 30, 2010

 

   2,794 

 

24,643  

 

6,372 

 

    9,085 

 

 42,894 

    Amortization expense

 

 

(421) 

 

(233)

 

(730)

 

(1,384)

Net December 31, 2010

 

   2,794 

 

24,222  

 

6,139 

 

    8,355 

 

 41,510 

    Additions

 

 

-  

 

 

1,057 

 

1,057 

    Amortization expense

 

 

(421) 

 

(194)

 

(747)

 

(1,362)

Net March 31, 2011

 

2,794 

 

23,801  

 

5,945 

 

8,665 

 

41,205 

    Additions

 

 

-  

 

 

206 

 

206 

    Amortization expense

 

 

(421) 

 

(244)

 

(762)

 

(1,427)

Net June 30, 2011

 

   2,794 

 

 23,380  

 

   5,701 

 

   8,109 

 

 39,984 

    Impairment/other

 

 

-  

 

 

(357)

 

(357)

    Amortization expense

 

 

(422) 

 

(122)

 

(762)

 

(1,306)

Net September 30, 2011

 

2,794 

 

22,958  

 

5,579 

 

6,990 

 

38,321 

    Additions

 

 

-  

 

 

153 

 

153 

    Amortization expense

 

 

(421) 

 

(227)

 

(745)

 

(1,393)

Net December 31, 2011

 

$ 2,794 

 

$ 22,537  

 

$   5,352 

 

$   6,398 

 

$ 37,081 

 

         The following table summarizes the estimated intangible asset amortization expense for the next five years and beyond:

 

 

For Fiscal

Years Ended

 

Customer

Relationship

Intangible

 

Production

and Supply

Contract

Intangible

 

Internally

Developed

Software

Intangible

 

Total        

 

2012         

 

$   1,685       

 

$  1,173          

 

$  3,029          

 

$   5,887       

 

2013         

 

1,685       

 

1,251          

 

3,097          

 

6,033       

 

2014         

 

1,685       

 

1,251          

 

1,659          

 

4,595       

 

2015         

 

1,685       

 

1,173          

 

442          

 

3,300       

 

2016         

 

1,685       

 

1,097          

 

312          

 

3,094       

 

Later         

 

15,376       

 

-          

 

128          

 

15,504       

 

 

 

$ 23,801       

 

$  5,945          

 

$  8,667          

 

$ 38,413       

*  Estimated amortization expense for the internally developed software is based on costs accumulated as of December 31, 2011.  These estimates will change as new costs are incurred and until the software is placed into service in all locations.