Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

The following table shows an analysis of goodwill and intangible assets:



	Goodwill			Intangible assets with an indefinite life		Intangible assets with finite life			Total
Net balance at December 31, 2012	$	—		$	16,666	$	21,593		$	38,259
Acquisitions	—			—		—			—
Amortization	—			—		(11,170		)	(11,170		)
Foreign currency translation adjustment	—			—		230			230
Net balance at December 31, 2013	—			16,666		10,653			27,319
Acquisitions	14,965			16,858		76,435			108,258
Amortization	—			—		(25,520		)	(25,520		)
Foreign currency translation adjustment	(19		)	—		(499		)	(518		)
Net balance at December 31, 2014	$	14,946		$	33,524	$	61,069		$	109,539

Gross balance at December 31, 2014	$	14,965		$	33,524	$	124,908		$	173,397
Accumulated amortization	—			—		(63,439		)	(63,439		)
Foreign currency translation adjustment	(19		)	—		(400		)	(419		)
Net balance at December 31, 2014	$	14,946		$	33,524	$	61,069		$	109,539

The following table presents the components of intangible assets:



	Gross Balance			Accumulated Amortization			Foreign Currency Translation Adjustment			Net Balance
December 31, 2014
Acquired insurance contracts	$	77,574		$	(47,710	)	$	(107	)	$	29,757
Operating platform	29,900			(5,482		)				24,418
Customer relationships	25,910			(12,283		)	(293		)	13,334
Goodwill	14,965			—			(19		)	14,946
Insurance licenses	33,524			—			—			33,524
Unfavorable service contract	(9,533		)	2,229			—			(7,304		)
Other	1,057			(193		)	—			864
Total	$	173,397		$	(63,439	)	$	(419	)	$	109,539

December 31, 2013
Acquired insurance contracts	$	31,102		$	(28,208	)	$	—		$	2,894
Customer relationships	17,371			(9,711		)	99			7,759
Insurance licenses	16,666			—			—			16,666
Total	$	65,139		$	(37,919	)	$	99		$	27,319

The expected remaining amortization expense for intangible assets with a finite life is $21.8 million for 2015, $17.0 million for 2016, $13.3 million for 2017, $9.4 million for 2018 and $0.8 million for 2019. The estimated remaining useful lives of these assets range from two to eight years at December 31, 2014.

The Company’s impairment reviews for goodwill and intangible assets did not result in the recognition of impairment losses for 2014, 2013 and 2012.

- 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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