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Goodwill and Other Intangible Assets
3 Months Ended
Mar. 31, 2013
Goodwill and Other Intangible Assets [Abstract]  
Goodwill and Other Intangible Assets

Note 7. Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill for the three months ended March 31, 2013 were as follows:

 

                                 
          Marketing &              
    Marketing &     Events     Travel &        
    Events U.S.     International     Recreation Group     Total  
    (in thousands)  

Balance at January 1, 2013

  $  62,686     $ 23,054     $ 52,080     $ 137,820  

Business acquisition

    —         158       —         158  

Foreign currency translation adjustments

    —         (1,374     (1,193     (2,567
   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at March 31, 2013

  $ 62,686     $ 21,838     $ 50,887     $ 135,411  
   

 

 

   

 

 

   

 

 

   

 

 

 

 

The following table summarizes goodwill by reporting unit and segment:

 

                 
    March 31,     December 31,  
    2013     2012  
    (in thousands)  

Marketing & Events Group:

               

Marketing & Events U.S.

  $ 62,686     $ 62,686  

Marketing & Events International:

               

GES United Kingdom

    12,890       13,894  

GES Canada

    8,948       9,160  
   

 

 

   

 

 

 

Total Marketing & Events Group

    84,524       85,740  
   

 

 

   

 

 

 

Travel & Recreation Group:

               

Brewster

    43,242       44,435  

Glacier Park

    4,461       4,461  

Alaska Denali Travel

    3,184       3,184  
   

 

 

   

 

 

 

Total Travel & Recreation Group

    50,887       52,080  
   

 

 

   

 

 

 

Total goodwill

  $ 135,411     $ 137,820  
   

 

 

   

 

 

 

A summary of other intangible assets as of March 31, 2013 is presented below:

 

                         
    Gross Carrying     Accumulated     Net Carrying  
    Value     Amortization     Value  
    (in thousands)  

Amortized intangible assets:

                       

Contracts and customer relationships

  $ 6,342     $ (2,582   $ 3,760  

Other

    1,192       (138     1,054  
   

 

 

   

 

 

   

 

 

 
      7,534       (2,720     4,814  

Unamortized intangible assets:

                       

Business licenses

    460       —         460  
   

 

 

   

 

 

   

 

 

 

Total

  $ 7,994     $ (2,720   $ 5,274  
   

 

 

   

 

 

   

 

 

 

A summary of other intangible assets as of December 31, 2012 is presented below:

 

                         
    Gross Carrying     Accumulated     Net Carrying  
    Value     Amortization     Value  
    (in thousands)  

Amortized intangible assets:

                       

Contracts and customer relationships

  $ 3,594     $ (2,384   $ 1,210  

Other

    959       (108     851  
   

 

 

   

 

 

   

 

 

 
      4,553       (2,492     2,061  

Unamortized intangible assets:

                       

Business licenses

    460       —         460  
   

 

 

   

 

 

   

 

 

 

Total

  $ 5,013     $ (2,492   $ 2,521  
   

 

 

   

 

 

   

 

 

 

During the three months ended March 31, 2013, Viad recorded a contract-related intangible asset of $2.1 million in connection with a preferred supplier agreement. Intangible asset amortization expense for the three months ended March 31, 2013 and 2012 was $292,000 and $135,000, respectively. Estimated amortization expense related to amortized intangible assets for future periods is expected to be as follows:

 

         
    (in thousands)  

2013

  $ 953  

2014

    963  

2015

    763  

2016

    644  

2017

    861  

Thereafter

    630