Quarterly report pursuant to Section 13 or 15(d)

Goodwill And Other Intangible Assets

v2.4.0.8
Goodwill And Other Intangible Assets
6 Months Ended
Jun. 30, 2013
Goodwill And Other Intangible Assets [Abstract]  
Goodwill And Other Intangible Assets

NOTE 5.  GOODWILL AND OTHER INTANGIBLE ASSETS

 

Goodwill

 

There was a decrease in goodwill during the six months ended June 30, 2013 from $57,481 to $56,907 due to the impact of foreign currency exchange rates.  The following table summarizes the changes in goodwill:

 

 

 

 

 

 

Balance at December 31, 2012

 

$

57,481 

 

 

 

 

Impact of foreign currency exchange rates

 

 

(574)

 

 

 

 

Balance at June 30, 2013

 

$

56,907 

 

 

 

 

Indefinite Lived Intangible Assets

 

The Company owns certain tradenames and trademarks which provide Black Diamond Equipment, Ltd. (“Black Diamond Equipment” or “BDEL”), Gregory Mountain Products, Inc. (“Gregory” or “GMP”), POC, and PIEPS with the exclusive and perpetual rights to manufacture and sell their respective products.  There was a decrease in tradenames and trademarks during the six months ended June 30, 2013 due to the impact of foreign currency exchange rates.  The following table summarizes the changes in indefinite lived intangible assets:

 

 

 

 

 

 

 

Balance at December 31, 2012

 

$

51,462 

 

 

 

 

Impact of foreign currency exchange rates

 

 

(560)

 

 

 

 

Balance at June 30, 2013

 

$

50,902 

 

 

 

 

Definite Lived Intangible Assets, net

 

Intangible assets such as certain customer relationships, core technologies and product technologies are amortizable over their estimated useful lives.  There was an increase in gross definite lived intangible assets during the six months ended June 30, 2013 as a result of the Company’s purchase of customer lists and customer relationships from Kabushiki Kaisha A&F (“A&F”), the prior distributor of Gregory’s products in Japan, off-set by a decrease due to the impact of foreign currency exchange rates.  The following table summarizes the changes in gross definite lived intangible assets:

 

 

 

 

 

 

Gross balance at December 31, 2012

 

$

42,500 

 

 

 

 

Increase due to purchase of customer lists and relationships

 

 

750 

Impact of foreign currency exchange rates

 

 

(710)

 

 

 

 

Gross balance at June 30, 2013

 

$

42,540 

 

 

 

 

Intangible assets, net of amortization as of June 30, 2013 and December 31, 2012, were as follows: 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2013

 

December 31, 2012

 

 

 

 

 

 

 

Customer lists and relationships

 

$

30,245 

 

$

29,890 

Product technologies

 

 

8,628 

 

 

8,868 

Trade name

 

 

2,162 

 

 

2,237 

Core technologies

 

 

1,505 

 

 

1,505 

 

 

 

42,540 

 

 

42,500 

Less accumulated amortization

 

 

(6,130)

 

 

(4,400)

 

 

$

36,410 

 

$

38,100