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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS The following table shows an analysis of goodwill and other intangible assets:
|  | Goodwill and other intangible assets |
|  | Goodwill |  | Other intangible assets |  | Total |
| Balance as of December 31, 2015 |  |  |  |  |  |
| Gross amount | $ | 199,889 |  |  | $ | 96,599 |  |  | $ | 296,488 |  |
| Accumulated impairment losses and amortization | (2,299 | ) |  | (29,035 | ) |  | (31,334 | ) |
|  | 197,590 |  |  | 67,564 |  |  | 265,154 |  |
| Amortization | — |  |  | (13,968 | ) |  | (13,968 | ) |
| Balance as of December 31, 2016 |  |  |  |  |  |
| Gross amount | 199,889 |  |  | 96,599 |  |  | 296,488 |  |
| Accumulated impairment losses and amortization | (2,299 | ) |  | (43,003 | ) |  | (45,302 | ) |
|  | 197,590 |  |  | 53,596 |  |  | 251,186 |  |
| Amortization | — |  |  | (8,041 | ) |  | (8,041 | ) |
| Balance as of December 31, 2017 |  |  |  |  |  |
| Gross amount | 199,889 |  |  | 96,599 |  |  | 296,488 |  |
| Accumulated impairment losses and amortization | (2,299 | ) |  | (51,044 | ) |  | (53,343 | ) |
|  | $ | 197,590 |  |  | $ | 45,555 |  |  | $ | 243,145 |  |
During the first quarter of 2015, the Company recognized goodwill of $191.7 million primarily attributable to Platinum’s assembled workforce and synergies expected to result upon integration of Platinum into the Company’s operations. Also during 2015, the Company recognized identifiable finite lived intangible assets of $75.2 million and identifiable indefinite lived intangible assets of $8.4 million in connection with its acquisition of Platinum. See “Note 3. Acquisition of Platinum” for additional information related to the Company’s acquisition of Platinum and other intangible assets acquired. The following table shows an analysis of goodwill and other intangible assets included in investments in other ventures, under equity method:
|  | Goodwill and other intangible assets included in investments in other ventures, under equity method |
|  | Goodwill |  | Other intangible assets |  | Total |
| Balance as of December 31, 2015 |  |  |  |  |  |
| Gross amount | $ | 12,318 |  |  | $ | 51,796 |  |  | $ | 64,114 |  |
| Accumulated impairment losses and amortization | (4,500 | ) |  | (36,460 | ) |  | (40,960 | ) |
|  | 7,818 |  |  | 15,336 |  |  | 23,154 |  |
| Amortization | — |  |  | (3,474 | ) |  | (3,474 | ) |
| Balance as of December 31, 2016 |  |  |  |  |  |
| Gross amount | 12,318 |  |  | 51,796 |  |  | 64,114 |  |
| Accumulated impairment losses and amortization | (4,500 | ) |  | (39,934 | ) |  | (44,434 | ) |
|  | 7,818 |  |  | 11,862 |  |  | 19,680 |  |
| Amortization | — |  |  | (2,946 | ) |  | (2,946 | ) |
| Balance as of December 31, 2017 |  |  |  |  |  |
| Gross amount | 12,318 |  |  | 51,796 |  |  | 64,114 |  |
| Accumulated impairment losses and amortization | (4,500 | ) |  | (42,880 | ) |  | (47,380 | ) |
|  | $ | 7,818 |  |  | $ | 8,916 |  |  | $ | 16,734 |  |
In accordance with the Company’s established accounting policy, the beginning of the fourth quarter was used as the date for performing the annual impairment test. The Company first assessed qualitative factors to determine whether it was necessary to perform a quantitative impairment test. Based on its qualitative assessment, the Company determined it was not more likely than not that the fair value of the goodwill and other intangible assets in question were less than their respective carrying amounts. The qualitative assessment included the following factors which the Company determined had significantly deteriorated given specific facts and circumstances: macroeconomic conditions; industry and market conditions; costs factors; and overall financial performance. In light of the qualitative assessment, the Company performed a quantitative analysis using a discounted cash flow model and concluded that the full amount of the goodwill and other intangible assets associated with this equity method investment were impaired. Other than normal course amortization of intangible assets, in accordance with the Company’s established accounting policy, there were no adjustments to carried goodwill and other intangible assets during the year ended December 31, 2017. The gross carrying value and accumulated amortization by major category of other intangible assets is shown below:
|  | Other intangible assets |
| At December 31, 2017 | Gross carrying value |  | Accumulated amortization and impairment losses |  | Total |
| Customer relationships and customer lists | $ | 95,458 |  |  | $ | (51,633 | ) |  | $ | 43,825 |  |
| Value of business acquired | 20,200 |  |  | (20,200 | ) |  | — |  |
| Software | 12,230 |  |  | (12,230 | ) |  | — |  |
| Licenses | 10,267 |  |  | — |  |  | 10,267 |  |
| Patents and intellectual property | 4,500 |  |  | (4,500 | ) |  | — |  |
| Covenants not-to-compete | 4,030 |  |  | (4,030 | ) |  | — |  |
| Trademarks and trade names | 1,710 |  |  | (1,331 | ) |  | 379 |  |
|  | $ | 148,395 |  |  | $ | (93,924 | ) |  | $ | 54,471 |  |
|  | Other intangible assets |
| At December 31, 2016 | Gross carrying value |  | Accumulated amortization and impairment losses |  | Total |
| Customer relationships and customer lists | $ | 95,458 |  |  | $ | (42,142 | ) |  | $ | 53,316 |  |
| Value of business acquired | 20,200 |  |  | (19,527 | ) |  | 673 |  |
| Software | 12,230 |  |  | (11,938 | ) |  | 292 |  |
| Licenses | 10,267 |  |  | — |  |  | 10,267 |  |
| Patents and intellectual property | 4,500 |  |  | (4,500 | ) |  | — |  |
| Covenants not-to-compete | 4,030 |  |  | (3,523 | ) |  | 507 |  |
| Trademarks and trade names | 1,710 |  |  | (1,307 | ) |  | 403 |  |
|  | $ | 148,395 |  |  | $ | (82,937 | ) |  | $ | 65,458 |  |
The remaining useful life of intangible assets with finite lives ranges from one to 16 years, with a weighted-average amortization period of 7.9 years. Expected amortization of the other intangible assets, including other intangible assets recorded in investments in other ventures, under equity method, is shown below:
|  | Other intangibles |  | Other intangible assets included in investments in other ventures, under equity method |  | Total |
| 2018 | $ | 5,727 |  |  | $ | 2,596 |  |  | $ | 8,323 |  |
| 2019 | 5,446 |  |  | 2,427 |  |  | 7,873 |  |
| 2020 | 5,237 |  |  | 1,564 |  |  | 6,801 |  |
| 2021 | 4,910 |  |  | 702 |  |  | 5,612 |  |
| 2022 | 4,522 |  |  | 702 |  |  | 5,224 |  |
| 2023 and thereafter | 9,446 |  |  | 925 |  |  | 10,371 |  |
| Total remaining amortization expense | 35,288 |  |  | 8,916 |  |  | 44,204 |  |
| Indefinite lived | 10,267 |  |  | — |  |  | 10,267 |  |
| Total | $ | 45,555 |  |  | $ | 8,916 |  |  | $ | 54,471 |  |

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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