Quarterly report pursuant to Section 13 or 15(d)

Goodwill And Other Intangible Assets

Goodwill And Other Intangible Assets

9 Months Ended

Sep. 30, 2017

Goodwill And Other Intangible Assets [Abstract]

NOTE 6. OTHER INTANGIBLE ASSETS

Goodwill

There was an increase in goodwill during the nine months ended September 30, 2017, from $0 to $18,156, due to the Company’s acquisition of Sierra on August 21, 2017. The following table summarizes the changes in goodwill by segment:


	Black Diamond		Sierra		Total

Balance at December 31, 2016	$	-	$	-	$	-

Increase due to acquisition		-		18,156		18,156

Balance at September 30, 2017	$	-	$	18,156	$	18,156

Indefinite Lived Intangible Assets

The Company owns certain tradenames and trademarks which provide Black Diamond Equipment, PIEPS and Sierra with the exclusive and perpetual rights to manufacture and sell their respective products. There was an increase in tradenames and trademarks during the nine months ended September 30, 2017, due to the Company’s acquisition of Sierra and the impact of foreign currency exchange rates. The following table summarizes the changes in indefinite lived intangible assets:


Balance at December 31, 2016	$	22,541

Increase due to acquisition		18,900
Impact of foreign currency exchange rates		353

Balance at September 30, 2017	$	41,794

Other Intangible Assets, net

Intangible assets are amortizable over their estimated useful lives. There was an increase in gross other intangible assets subject to amortization during the nine months ended September 30, 2017 due to the Company’s acquisition of Sierra and the impact of foreign currency exchange rates. The following table summarizes the changes in gross other intangible assets:


Gross balance at December 31, 2016	$	16,980

Increase due to acquisition		15,800
Impact of foreign currency exchange rates		510

Gross balance at September 30, 2017	$	33,290

Other intangible assets, net of amortization as of September 30, 2017 and December 31, 2016, were as follows:


	September 30, 2017		December 31, 2016

Customer lists and relationships	$	26,426	$	13,942
Product technologies		4,817		2,091
Trade name / trademark		1,100		-
Core technologies		947		947
		33,290		16,980
Less accumulated amortization		(8,600)		(7,211)
	$	24,690	$	9,769

- 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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