Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill

v2.4.0.8
Intangible Assets and Goodwill
6 Months Ended
Jun. 30, 2013
Intangible Assets and Goodwill

NOTE 6—INTANGIBLE ASSETS AND GOODWILL

The Company conducted its annual impairment test of intangible assets and goodwill as of June 30, 2013, and determined that there was no impairment. The Company also tests its intangible assets and goodwill between the annual impairment test if events occur or circumstances change that would more likely than not reduce the fair value of the Company or its assets below their carrying amounts. No events have occurred since June 30, 2013, that would trigger further impairment testing of the Company’s intangible assets and goodwill.

Amortization expense for the three and six months ended June 30, 2013 totaled $37,000 and $83,000, respectively, and $32,000 and $65,000, respectively, for the same periods in 2012. Other intangible assets primarily include acquired customer lists and non-compete agreements.

The following table presents details of the Company’s intangible assets, related accumulated amortization, and goodwill (in thousands):

 

 

As of June 30, 2013

 

  

As of December 31, 2012

 

 

Gross

 

  

Accumulated

Amortization

 

 

Impairment

 

  

Net

 

  

Gross

 

  

Accumulated

Amortization

 

 

Impairment

 

  

Net

 

Patents (4-10 years)             

$

  1,914

  

  

$

(1,888

) 

 

$

  

  

$

  26

  

  

$

  1,914

  

  

$

(1,833

) 

 

$

  

  

$

  81

  

Trademarks (6 years)             

 

  69

  

  

 

(69

) 

 

 

  

  

 

  

  

 

  69

  

  

 

(69

) 

 

 

  

  

 

  

Other (4 to 6 years)             

 

  817

  

  

 

(626

) 

 

 

  

  

 

  191

  

  

 

  817

  

  

 

(598

) 

 

 

  

  

 

  219

  

Total             

$

  2,800

  

  

$

(2,583

) 

 

$

  

  

$

  217

  

  

$

  2,800

  

  

$

(2,500

) 

 

$

  

  

$

  300

  

Goodwill (Indefinite life)             

$

  2,926

  

  

  

  

  

 

  

  

  

  

$

  2,926

  

  

$

  2,926

  

  

  

  

  

 

  

  

  

  

$

  2,926