XML 16 R10.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Goodwill and Other Intangible Assets | 6 Months Ended
--- | ---
Aug. 31, 2013
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 4. Goodwill and Other Intangible Assets Goodwill represents the excess of the purchase price over the fair value of net assets of acquired businesses and is not amortized. Goodwill and indefinite-lived intangibles are evaluated for impairment on an annual basis, or more frequently if impairment indicators arise, using a fair-value-based test that compares the fair value of the asset to its carrying value. Fair values of reporting units are typically calculated using a factor of expected earnings before interest, taxes, depreciation, and amortization. The Company must make assumptions regarding estimated future cash flows and other factors to determine the fair value of the respective assets in assessing the recoverability of its goodwill and other intangibles. If these estimates or the related assumptions change, the Company may be required to record impairment charges for these assets in the future. The cost of intangible assets is based on fair values at the date of acquisition. Intangible assets with determinable lives are amortized on a straight-line basis over their estimated useful life (between 1 and 10 years). Trademarks with indefinite lives are evaluated for impairment on an annual basis, or more frequently if impairment indicators arise. The Company assesses the recoverability of its definite-lived intangible assets primarily based on its current and anticipated future undiscounted cash flows. The carrying amount and accumulated amortization of the Company’s intangible assets at each balance sheet date are as follows (in thousands):
As of August 31, 2013 |  | Weighted Average Remaining Life (in years) |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |
Amortized intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  |  | — |  |  | $ | 1,234 |  |  | $ | 1,234 |  |  | $ | — |
Customer lists |  |  | 5.9 |  |  |  | 37,887 |  |  |  | 19,279 |  |  |  | 18,608 |
Noncompete |  |  | — |  |  |  | 500 |  |  |  | 500 |  |  |  | — |
Patent |  |  | 4.5 |  |  |  | 773 |  |  |  | 198 |  |  |  | 575 |
Total |  |  | 5.8 |  |  | $ | 40,394 |  |  | $ | 21,211 |  |  | $ | 19,183 |
As of February 28, 2013 |  | Weighted Average Remaining Life (in years) |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |
Amortized intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  |  | — |  |  | $ | 1,234 |  |  | $ | 1,234 |  |  | $ | — |
Customer lists |  |  | 6.4 |  |  |  | 37,887 |  |  |  | 17,753 |  |  |  | 20,134 |
Noncompete |  |  | — |  |  |  | 500 |  |  |  | 500 |  |  |  | — |
Patent |  |  | 5.0 |  |  |  | 773 |  |  |  | 134 |  |  |  | 639 |
Total |  |  | 6.2 |  |  | $ | 40,394 |  |  | $ | 19,621 |  |  | $ | 20,773 |
|  |  |  |  |  |  |  | August 31, 2013 |  |  | February 28, 2013 |
Non-amortizing intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  |  |  |  |  |  |  |  | $ | 63,378 |  |  | $ | 63,378 |
Aggregate amortization expense for the six months ended August 31, 2013 and August 31, 2012 was $1.6 million and $1.7 million, respectively. The Company’s estimated amortization expense for the current and next five fiscal years ending in February of the stated calendar year is as follows (in thousands):
2014 |  | $ | 3,180 |
2015 |  |  | 3,063 |
2016 |  |  | 3,004 |
2017 |  |  | 3,004 |
2018 |  |  | 2,765 |
2019 |  |  | 2,302 |
Changes in the net carrying amount of goodwill as of the dates indicated are as follows (in thousands):
|  | Print |  |  | Apparel |  |  |  |
|  | Segment |  |  | Segment |  |  |  |
|  | Total |  |  | Total |  |  | Total |
Balance as of February 29, 2012 |  | $ | 47,085 |  |  | $ | 74,549 |  |  | $ | 121,634 |
Goodwill acquired adjustment |  |  | 175 |  |  |  | — |  |  |  | 175 |
Goodwill impairment |  |  | — |  |  |  | — |  |  |  | — |
Balance as of February 28, 2013 |  |  | 47,260 |  |  |  | 74,549 |  |  |  | 121,809 |
Goodwill acquired |  |  | — |  |  |  | — |  |  |  | — |
Goodwill impairment |  |  | — |  |  |  | — |  |  |  | — |
Balance as of August 31, 2013 |  | $ | 47,260 |  |  | $ | 74,549 |  |  | $ | 121,809 |
During the fiscal year ended February 28, 2013, an adjustment of $0.2 million reflects a revised estimate in accounts receivable, inventories, accrued expenses, and property, plant and equipment, net of adjustment to the purchase price, related to the acquisition of PrintXcel and Printegra assets from Cenveo Corporation (“Cenveo”) and its subsidiaries.

X
- Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration