Goodwill and Identifiable Assets

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

5. Goodwill and Identifiable Intangible Assets

The changes in the carrying amount of goodwill for the year ended December 31, 2014 and the nine months ended September 30, 2015 are as follows (in thousands):



	Apex Segment			Oxford Segment			Total
Balance as of December 31, 2013	$	289,712		$	224,714		$	514,426
Translation adjustment	(1,761		)	(605		)	(2,366		)
Balance as of December 31, 2014	287,951			224,109			512,060
Creative Circle Acquisition (See Note 3)	358,460			—			358,460
LabResource Acquisition (See Note 3)	—			6,104			6,104
Translation adjustment	(963		)	53			(910		)
Balance as of September 30, 2015	$	645,448		$	230,266		$	875,714

Acquired intangible assets consisted of the following (in thousands):



		As of September 30, 2015						As of December 31, 2014
	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets subject to amortization:
Customer relationships	2 - 10 years	$	197,230	$	67,934	$	129,296	$	101,141	$	53,434	$	47,707
Contractor relationships	2 - 5 years	69,806		37,314		32,492		39,332		32,021		7,311
Non-compete agreements	2 - 7 years	10,916		2,755		8,161		3,654		1,922		1,732
In-use software	6 years	18,900		5,729		13,171		18,900		3,366		15,534
Favorable contracts⁽¹⁾	5 years	900		97		803		—		—		—
		297,752		113,829		183,923		163,027		90,743		72,284
Intangible assets not subject to amortization:
Trademarks		245,698		—		245,698		178,325		—		178,325
Total		$	543,450	$	113,829	$	429,621	$	341,352	$	90,743	$	250,609

⁽¹⁾The favorable contracts intangible asset pertains to operating leases which are amortized as rent expense and included in SG&A expenses in the accompanying condensed consolidated statements of operations and comprehensive income. Expense associated with this favorable contracts intangible asset is not significant.

Amortization expense for intangible assets with finite lives was $11.3 million and $5.5 million for the three months ended September 30, 2015 and 2014, respectively, and was $23.2 million and $16.6 million for the nine months ended September 30, 2015 and 2014, respectively. Estimated amortization expense for the remainder of this year, each of the next four years, and thereafter is as follows (in thousands):



2015	$	11,373
2016	39,700
2017	33,068
2018	28,940
2019	22,039
Thereafter	48,803
	$	183,923

Goodwill and other intangible assets having an indefinite useful life are not amortized for financial statement purposes. These assets are reviewed for impairment on an annual basis as of October 31 and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. There were no triggering events that required an interim impairment analysis during the current period.

- 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.

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