GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill by reporting units for the two years ended December 31, 2013, were as follows (amounts in thousands):



	Agricultural Segment			Earthmoving/ Construction Segment			Consumer Segment			Total
Balance at January 1, 2012	$	19,841		$	—		$	—		$	19,841
Acquisitions	—			13,653			—			13,653
Acquisition adjustment	(7,289		)	—			—			(7,289		)
Foreign currency translation	(1,030		)	(234		)	—			(1,264		)
Balance at December 31, 2012	11,522			13,419			—			24,941
Acquisitions	14,828			3,486			2,688			21,002
Foreign currency translation	(1,810		)	(2,007		)	(51		)	(3,868		)
Balance at December 31, 2013	$	24,540		$	14,898		$	2,637		$	42,075

The Company reviews goodwill for impairment during the fourth quarter of each annual reporting period, and whenever events and circumstances indicate that the carrying values may not be recoverable. At the time of the review, the Company determines if it will first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in ASC 350.

When the two-step goodwill impairment test is performed, the Company evaluates the recoverability of goodwill by estimating the future discounted cash flows of the reporting unit to which the goodwill relates and using an earnings before interest, taxes, depreciation, and amortization (EBITDA) multiple approach. In determining the estimated future cash flows, the Company considers current and projected future levels of income as well as business trends and economic conditions. When the Company’s estimated fair value of the reporting unit is less than the carrying value, a second step of the impairment analysis is performed. In this second step, the implied fair value of goodwill is calculated as the excess of the fair value of a reporting unit over the fair values assigned to its assets and liabilities. If the implied fair value of goodwill is less than the carrying value of the reporting unit’s goodwill, the difference is recognized as an impairment loss. For December 31, 2013, the Company used the two-step goodwill impairment test for the agricultural segment goodwill related to the acquisition of the Latin American farm tire business and the earthmoving/construction goodwill related to the Company's acquisition of Planet Group. No impairment was identified.

The components of intangible assets for the two years ended December 31, 2013, were as follows (amounts in thousands):



	Weighted- Average Useful Lives (in Years)	2013		2012
Amortizable intangible assets:
Customer relationships	13.6	16,659		19,357
Patents, trademarks and other	6.7	20,561		3,658
Total at cost		37,220		23,015
Less accumulated amortization		(4,607	)	(1,807	)
		32,613		21,208

Amortization related to intangible assets for the years 2013, 2012, and 2011 totaled $3.0 million, $1.1 million, and $0.1 million, respectively.

The estimated aggregate amortization expense at December 31, 2013, is as follows (amounts in thousands):



2014	$	4,548
2015	4,188
2016	3,367
2017	3,190
2018	3,190
Thereafter	14,130
	$	32,613