Goodwill And Other Intangible Assets
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Dec. 31, 2014
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Goodwill And Other Intangible Assets |
NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
There was a decrease in goodwill during the year ended December 31, 2014 from $57,703 to $41,983 due to the GMP Sale and the impact of foreign currency exchange rates. There was an increase in goodwill during the year ended December 31, 2013 from $57,481 to $57,703 due to the impact of foreign currency exchange rates. Based on the results of the Company’s annual impairment tests completed during the fourth quarter, the Company determined that goodwill was not impaired. The following table summarizes the changes in goodwill:
Indefinite Lived Intangible Assets
The Company owns certain tradenames and trademarks which provide Black Diamond Equipment, Ltd., POC and PIEPS with the exclusive and perpetual rights to manufacture and sell their respective products. Tradenames and trademarks will not be amortized, but reviewed annually for impairment or upon the existence of a triggering event. There was a decrease in tradenames and trademarks during the year ended December 31, 2014 due to the GMP Sale and the impact of foreign currency exchange rates. Based on the results of the Company’s annual impairment tests, the Company determined that indefinite lived intangible assets were not impaired. The following table summarizes the changes in indefinite lived intangible assets:
Other 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 other intangible assets subject to amortization during the year ended December 31, 2014 due to the GMP Sale and the impact of foreign currency exchange rates. The following table summarizes the changes in gross other intangible assets:
Intangible assets, net of amortization as of December 31, 2014 and December 31, 2013, were as follows:
Amortization expense for continuing operations for the years ended December 31, 2014, 2013, and 2012, was $2,985, $3,063, and $1,798, respectively. Future amortization expense for other intangible assets as of December 31, 2014 is as follows:
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