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Goodwill and Identifiable Intangible Assets | 12 Months Ended
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Dec. 31, 2013
Goodwill and Identifiable Intangible Assets |
Goodwill and Identifiable Intangible Assets | 5. Goodwill and Identifiable Intangible Assets We performed the first step of quantitative testing for goodwill impairment for one reporting unit in our land segment. For all other reporting units, we used qualitative factors to review goodwill for impairment. As a result of performing the reviews for impairment of goodwill and identifiable intangible assets not subject to amortization, we determined that no impairment existed as of December 31, 2013 or 2012, and, therefore, there were no write-downs to any of our goodwill or identifiable intangible assets not subject to amortization. Goodwill The following table provides information regarding changes in goodwill (in thousands):
|  | Aviation Segment |  | Marine Segment |  | Land Segment |  | Total |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
As of December 31, 2011 |  | $ | 102,509 |  | $ | 70,522 |  | $ | 173,215 |  | $ | 346,246 |
2012 acquisitions |  |  | 8,028 |  |  | — |  |  | 115,165 |  |  | 123,193 |
Adjustment of purchase price allocations – 2011 acquisitions |  |  | (1,106) |  |  | — |  |  | 2,863 |  |  | 1,757 |
Foreign currency translation of non-USD functional currency subsidiary goodwill |  |  | (99) |  |  | (591) |  |  | — |  |  | (690) |
As of December 31, 2012 |  |  | 109,332 |  |  | 69,931 |  |  | 291,243 |  |  | 470,506 |
2013 acquisitions |  |  | — |  |  | — |  |  | 16,077 |  |  | 16,077 |
Adjustment of purchase price allocations – 2012 acquisitions |  |  | 6,500 |  |  | — |  |  | (8,506) |  |  | (2,006) |
Foreign currency translation of non-USD functional currency subsidiary goodwill |  |  | (325) |  |  | (843) |  |  | 182 |  |  | (986) |
As of December 31, 2013 |  | $ | 115,507 |  | $ | 69,088 |  | $ | 298,996 |  | $ | 483,591 |
Identifiable Intangible Assets The following table provides information about our identifiable intangible assets (in thousands):
|  | As of December 31, 2013 |  | As of December 31, 2012 |
--- | --- | --- | --- | --- | ---
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 188,276 |  | $ | 79,688 |  | $ | 108,588 |  | $173,376 |  | $ | 61,562 |  | $ | 111,814 |
Supplier agreements |  |  | 33,648 |  |  | 7,310 |  |  | 26,338 |  | 33,248 |  |  | 5,531 |  |  | 27,717 |
Others |  |  | 19,738 |  |  | 8,634 |  |  | 11,104 |  | 19,878 |  |  | 6,143 |  |  | 13,735 |
|  |  | 241,662 |  |  | 95,632 |  |  | 146,030 |  | 226,502 |  |  | 73,236 |  |  | 153,266 |
Intangible assets not subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademark/trade name rights |  |  | 21,172 |  |  | — |  |  | 21,172 |  | 19,007 |  |  | — |  |  | 19,007 |
|  | $ | 262,834 |  | $ | 95,632 |  | $ | 167,202 |  | $245,509 |  | $ | 73,236 |  | $ | 172,273 |
Intangible amortization expense for 2013, 2012 and 2011 was $22.4 million, $18.1 million and $25.0 million, respectively. The adjustment of purchase price allocations for 2012 acquisitions made in 2013 resulted in a $2.0 million reduction in goodwill within our land segment principally due to a $3.3 million increase in identifiable intangible assets, primarily customer relationships and trademark/trade name rights, partially offset by a $0.9 million decrease in other acquired assets and a $0.4 million increase in assumed liabilities. Additionally, we reclassified $6.5 million in goodwill from our land segment to our aviation segment. The adjustment of purchase price allocations for 2011 acquisitions made in 2012 resulted in a reclassification of $2.9 million in goodwill from our aviation segment to our land segment, an increase in aviation segment goodwill of $1.8 million and a decrease in identifiable intangible assets of $1.1 million, primarily customer relationships and developed technology. The future estimated amortization of our identifiable intangible assets is as follows (in thousands):
Year Ended December 31, |  |  |
--- | --- | --- | ---
2014 |  | $ | 21,426 |
2015 |  |  | 18,823 |
2016 |  |  | 16,512 |
2017 |  |  | 14,443 |
2018 |  |  | 13,041 |
Thereafter |  |  | 61,785 |
|  | $ | 146,030 |

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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 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 2: 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 3: 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=26713463&loc=d3e16373-109275 Reference 4: 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=26713463&loc=d3e16265-109275 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 + Details
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