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Note 4: Value of Business Acquired

12 Months Ended

Dec. 31, 2012

Notes

Note 4: Value of Business Acquired

4)    Value of Business Acquired

Information with regard to value of business acquired is as follows:

		December 31
		2012		2011		2010
Balance at beginning of year	$	10,996,050	$	8,996,134	$	10,231,755
Value of  business acquired		48,190		3,145,116		(515,147)
Imputed interest at 7%		728,880		701,349		674,463
Amortization		(1,944,038)		(1,846,549)		(1,394,937)
Net amortization charged to income		(1,215,158)		(1,145,200)		(720,474)
Balance at end of year	$	9,829,082	$	10,996,050	$	8,996,134

Presuming no additional acquisitions, net amortization charged to income is expected to approximate $1,104,000, $1,038,000, $855,000, $789,000, and $727,000 for the years 2013 through 2017. Actual amortization may vary based on changes in assumptions or experience. As of December 31, 2012, value of business acquired is being amortized over a weighted average life of 7.6 years.

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The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings.

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