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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2012
Goodwill and Other Intangible Assets | Note 5. Goodwill and Other Intangible Assets Goodwill and other intangible assets: ASC Topic 350 prohibits the amortization of goodwill and intangible assets with indefinite useful lives. Topic 350 requires that these assets be reviewed for impairment at least annually. An impairment charge for goodwill is recognized only when the estimated fair value of a reporting unit, including goodwill, is less than its carrying amount. The Company performed the annual impairment test as of December 31, 2012 and 2011. The results of the impairment test indicated that no goodwill or intangible impairment existed as of the test date. The Company has had no historical impairments of goodwill. In accordance with Topic 350, the Company will continue to complete an impairment analysis on an annual basis. Goodwill and other intangible assets, net, consist of $56,324,000 and $44,668,000 of goodwill and $50,892,000 and $33,050,000 of intangible assets, net of accumulated amortization, for the periods ended December 31, 2012 and 2011, respectively. Additions to goodwill and other intangible assets in 2012 primarily relate to the December 2012 acquisition of Klim. Additions to goodwill and other intangible assets in 2011 relate to the acquisition of Indian Motorcycle Company, Global Electric Motorcars LLC, and Goupil Industries S.A. Goodwill associated with these acquisitions is tax deductible. Financial results for each of the above acquisitions are included in the Company’s consolidated results from the date of acquisition. Pro forma financial results are not presented as the acquisitions are not material, individually or in the aggregate. The aggregate Klim purchase price was allocated on a preliminary basis to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. As of December 31, 2012, this allocation for Klim remains preliminary as it relates to income taxes and a working capital adjustment. The changes in the carrying amount of goodwill for the years ended December 31, 2012 and 2011 are as follows (in thousands):
|  | 2012 |  |  | 2011 |
Balance as of beginning of year |  | $ | 44,668 |  |  | $ | 28,354 |
Goodwill acquired during the year |  |  | 11,061 |  |  |  | 16,482 |
Currency translation effect on foreign goodwill balances |  |  | 595 |  |  |  | (168 | )
Balance as of end of year |  | $ | 56,324 |  |  | $ | 44,668 |
For other intangible assets the changes in the net carrying amount for the years December 31, 2012 and 2011 were as follows (in thousands):
|  | For the Year Ended December 31, 2012 |  |  | For the Year Ended December 31, 2011 |
|  | Gross Amount |  |  | Accumulated Amortization |  |  | Gross Amount |  |  | Accumulated Amortization |
Other intangible assets, beginning |  | $ | 34,256 |  |  | $ | (1,206 | ) |  | $ | 3,147 |  |  | $ | (188 | )
Intangible assets acquired during the period |  |  | 20,369 |  |  |  | — |  |  |  | 31,106 |  |  |  | — |
Amortization expense |  |  | — |  |  |  | (2,787 | ) |  |  | — |  |  |  | (1,018 | )
Foreign currency translation effect on balances |  |  | 282 |  |  |  | (22 | ) |  |  | 3 |  |  |  | — |
Other intangible assets, ending |  | $ | 54,907 |  |  | $ | (4,015 | ) |  | $ | 34,256 |  |  | $ | (1,206 | )
The components of other intangible assets were as follows (in thousands):
December 31, 2012 |  | Estimated Life (Years) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |
Non-compete agreements |  | 5 |  | $ | 540 |  |  | $ | (77 | ) |  | $ | 463 |
Dealer/customer related |  | 7 |  |  | 14,702 |  |  |  | (1,650 | ) |  |  | 13,052 |
Developed technology |  | 5-7 |  |  | 12,974 |  |  |  | (2,288 | ) |  |  | 10,686 |
Total amortizable |  |  |  |  | 28,216 |  |  |  | (4,015 | ) |  |  | 24,201 |
Non-amortizable—brand/trade names |  |  |  |  | 26,691 |  |  |  | — |  |  |  | 26,691 |
Total other intangible assets, net |  |  |  | $ | 54,907 |  |  | $ | (4,015 | ) |  | $ | 50,892 |
December 31, 2011 |  | Estimated Life (Years) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |
Non-compete agreements |  | 5 |  | $ | 240 |  |  | $ | (24 | ) |  | $ | 216 |
Dealer/customer related |  | 7 |  |  | 8,013 |  |  |  | (366 | ) |  |  | 7,647 |
Developed technology |  | 7 |  |  | 8,625 |  |  |  | (816 | ) |  |  | 7,809 |
Total amortizable |  |  |  |  | 16,878 |  |  |  | (1,206 | ) |  |  | 15,672 |
Non-amortizable—brand/trade names |  |  |  |  | 17,378 |  |  |  | — |  |  |  | 17,378 |
Total other intangible assets, net |  |  |  | $ | 34,256 |  |  | $ | (1,206 | ) |  | $ | 33,050 |
Amortization expense for intangible assets during 2012 and 2011 was $2,787,000 and $1,018,000, respectively. Estimated amortization expense for 2013 to 2017 is as follows: 2013, $4,222,000; 2014, $4,222,000; 2015, $4,222,000; 2016, $4,198,000; 2017, $3,901,000; and after 2017, $3,436,000. The preceding expected amortization expense is an estimate and actual amounts could differ due to additional intangible asset acquisitions, changes in foreign currency rates or impairment of intangible assets.

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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 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 42, 43, 44, 45, 46, 47 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13854-109267 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 + Details
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