Quarterly report pursuant to Section 13 or 15(d)

Goodwill And Other Intangible Assets

v2.4.0.8
Goodwill And Other Intangible Assets
9 Months Ended
Sep. 30, 2014
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 nine months ended September 30, 2014, from $57,703 to $43,112, due to the GMP Sale and the impact of foreign currency exchange rates.  The following table summarizes the changes in goodwill:

 

 

 

 

 

 

Balance at December 31, 2013

 

$

57,703 

 

 

 

 

Decrease due to the GMP Sale

 

 

(12,620)

Impact of foreign currency exchange rates

 

 

(1,971)

 

 

 

 

Balance at September 30, 2014

 

$

43,112 

 

Indefinite Lived Intangible Assets

 

The Company owns certain tradenames and trademarks which provide Black Diamond Equipment, Ltd. (“Black Diamond Equipment” or “BDEL”), POC Sweden AB and its subsidiaries (collectively, “POC”) and PIEPS Holding GmbH and its subsidiaries (collectively, “PIEPS”) with the exclusive and perpetual rights to manufacture and sell their respective products.  There was a decrease in tradenames and trademarks during the nine months ended September 30, 2014, due to the GMP Sale and the impact of foreign currency exchange rates.  The following table summarizes the changes in indefinite lived intangible assets:

 

 

 

 

 

 

Balance at December 31, 2013

 

$

51,679 

 

 

 

 

Decrease due to the GMP Sale

 

 

(13,050)

Impact of foreign currency exchange rates

 

 

(1,926)

 

 

 

 

Balance at September 30, 2014

 

$

36,703 

 

 

 

 

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 a decrease in gross definite lived intangible assets during the nine months ended September 30, 2014 due to the GMP Sale and the impact of foreign currency exchange rates.  The following table summarizes the changes in gross definite lived intangible assets:

 

 

 

 

 

 

Gross balance at December 31, 2013

 

$

43,552 

 

 

 

 

Decrease due to the GMP Sale

 

 

(6,233)

Impact of foreign currency exchange rates

 

 

(2,471)

 

 

 

 

Gross balance at September 30, 2014

 

$

34,848 

 

 

 

 

 

Intangible assets, net of amortization as of September 30, 2014 and December 31, 2013, were as follows:

 

 

 

 

 

 

 

 

 

 

 

September 30, 2014

 

December 31, 2013

 

 

 

 

 

 

 

Customer lists and relationships

 

$

23,881 

 

$

30,809 

Product technologies

 

 

8,014 

 

 

8,992 

Trade name

 

 

2,006 

 

 

2,246 

Core technologies

 

 

947 

 

 

1,505 

 

 

 

34,848 

 

 

43,552 

Less accumulated amortization

 

 

(8,118)

 

 

(8,022)

 

 

$

26,730 

 

$

35,530