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GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS [Text Block]
The following table shows an analysis of goodwill and intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill
 
Intangible
assets with an
indefinite life
 
Intangible
assets with a
finite life
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
Net balance at December 31, 2012
$
49,635

 
$
26,036

 
$
21,822

 
$
97,493

 
 
Amortization
n/a

 
n/a

 
(2,233
)
 
(2,233
)
 
 
Foreign currency translation adjustment
(3,213
)
 
—

 
(2,519
)
 
(5,732
)
 
 
Net balance at December 31, 2013
46,422

 
26,036

 
17,070

 
89,528

 
 
Amortization
n/a

 
n/a

 
(1,982
)
 
(1,982
)
 
 
Foreign currency translation adjustment
726

 
—

 
688

 
1,414

 
 
Net balance at December 31, 2014
$
47,148

 
$
26,036

 
$
15,776

 
$
88,960

 
 
 
 
 
 
 
 
 
 
 
 
Gross balance at December 31, 2014
$
42,237

 
$
26,036

 
$
35,596

 
$
103,869

 
 
Accumulated amortization
n/a

 
n/a

 
(25,583
)
 
(25,583
)
 
 
Foreign currency translation adjustment
4,911

 
—

 
5,763

 
10,674

 
 
Net balance at December 31, 2014
$
47,148

 
$
26,036

 
$
15,776

 
$
88,960

 
 
 
 
 
 
 
 
 
 
 

n/a – not applicable
We estimate that the annual amortization expense for our total intangible assets with a finite life will be approximately $2 million in 2015 and 2016 and $1 million in 2017 through to 2019. The estimated remaining useful lives of these assets range from five to twenty-four years.
Intangible assets with an indefinite life consist primarily of U.S. state licenses that provide a legal right to transact business indefinitely. Our impairment reviews for goodwill and indefinite lived intangibles did not result in the recognition of impairment losses for the years ended December 31, 2014, 2013 and 2012.