Annual report pursuant to Section 13 and 15(d)

Goodwill And Other Intangible Assets

Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2011

Goodwill And Other Intangible Assets [Abstract]

NOTE 5. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

Goodwill was $38,226, $38,226, and $0 as of December 31, 2011, 2010, and 2009, respectively. The increase in goodwill from December 31, 2009 to December 31, 2010 was due to the Mergers. Based on the results of the Company's annual impairment tests completed during the fourth quarter, the Company determined that goodwill was not impaired.

Indefinite Lived Intangible Assets

In connection with the Mergers, the Company acquired certain tradenames and trademarks which provide BDEL and GMP 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. Tradenames and trademarks were $32,650 as of December 31, 2011 and 2010. Based on the results of the Company's annual impairment tests, the Company determined that indefinite lived intangible assets were not impaired.

Definite Lived Intangible Assets, net

Intangible assets such as certain customer relationships, core technologies and product technologies are amortizable over their estimated useful lives. Intangible assets, net of amortization as of December 31, 2011 and 2010, were as follows:


				December 31, 2011

				Accumulated				Weighted Average
		Gross		Amortization			Net	Useful Life

Intangibles subject to amortization
Customer relationships	$	16,375	$	(1,730	)	$	14,645	15.1 years
Core technologies		1,505		(261	)		1,244	9.3 years
Product technologies		335		(116	)		219	4.6 years
	$	18,215	$	(2,107	)	$	16,108	14.4 years

				December 31, 2010

				Accumulated				Weighted Average
		Gross		Amortization			Net	Useful Life

Intangibles subject to amortization
Customer relationships	$	16,375	$	(637	)	$	15,738	15.1 years
Core technologies		1,505		(96	)		1,409	9.3 years
Product technologies		335		(43	)		292	4.6 years
	$	18,215	$	(776	)	$	17,439	14.4 years

Amortization expense for the years ended December 31, 2011 and 2010, was $1,331 and $776, respectively. There were no intangible assets as of December 31, 2009. Future amortization expense for definite-lived intangible assets as of December 31, 2011 is as follows:


2012	$	1,330
2013		1,330
2014		1,312
2015		1,275
2016		1,257
Thereafter		9,604
	$	16,108

- 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.

+ References + Details