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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2012
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract] |
Goodwill and Other Intangible Assets | The following table presents the changes in the carrying amount of goodwill and other intangible assets during the year ended December 31, 2012 (in thousands):
|  | Goodwill |  |  | Other Intangible Assets |  |  | Total |
Balance as of December 31, 2011 |  | $ | 101,764 |  |  | $ | 43,194 |  |  | $ | 144,958 |
Acquired during the year |  |  | 44,074 |  |  |  | 30,831 |  |  |  | 74,905 |
Adjustments to prior year estimates |  |  | (50 | ) |  |  | 50 |  |  |  | - |
Amortization |  |  | - |  |  |  | (10,886 | ) |  |  | (10,886 | )
Balance as of December 31, 2012 |  | $ | 145,788 |  |  | $ | 63,189 |  |  | $ | 208,977 |
The following table presents the changes in the carrying amount of goodwill and other intangible assets during the year ended December 31, 2011 (in thousands):
| Goodwill |  | Other Intangible Assets |  | Total
Balance as of December 31, 2010 | 84,942 |  | 32,236 |  | 117,178
Acquired during the year | 15,822 |  | 17,530 |  | 33,352
Payment of earnout | 1,000 |  | - |  | 1,000
Amortization | - |  | (6,572 | ) | (6,572)
Balance as of December 31, 2011 | $ 101,764 |  | $ 43,194 |  | $ 144,958
Goodwill balance by reportable segment | The following table presents goodwill balance by reportable segment as of December 31, 2012 and 2011 (in thousands):
| As of December 31,
2012 |  | 2011
Service Centers | $ 121,901 |  | $ 77,877
Innovative Pumping Solutions | 15,980 |  | 15,980
Supply Chain Services | 7,907 |  | 7,907
Total | $ 145,788 |  | $ 101,764
Amortizable Other Intangible Assets | The following table presents a summary of amortizable other intangible assets (in thousands):
| As of December 31, 2012 |  | As of December 31, 2011
| Gross Carrying Amount |  | Accumulated Amortization |  | Carrying Amount, net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Carrying Amount, net
Vendor agreements | $ 2,496 |  | $ (1,081) |  | $ 1,415 |  | $ 2,496 |  | $ (956) |  | $ 1,540
Customer relationships | 90,851 |  | (30,010) |  | 60,841 |  | 64,262 |  | (23,508) |  | 40,754
Non-compete agreements | 1,541 |  | (608) |  | 933 |  | 2,611 |  | (1,711) |  | 900
Total | $ 94,888 |  | $ (31,699) |  | $ 63,189 |  | $ 69,369 |  | $ (26,175) |  | $ 43,194
Estimated future annual amortization of intangible assets | Other intangible assets are generally amortized on a straight-line basis over their estimated useful lives. The estimated future annual amortization of intangible assets for each of the next five years and thereafter are as follows (in thousands):
2013 | 11,747
2014 | 11,473
2015 | 10,039
2016 | 7,735
2017 | 7,686
Thereafter | 14,509

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- Definition Tabular disclosure of the estimated aggregate amortization expense for intangible assets subject to amortization for each of the five succeeding fiscal years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 + Details
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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 45 -Subparagraph c -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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 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 3: 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 4: 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 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 45 -Subparagraph e -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. + Details
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