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Goodwill And Other Intangible Assets | 12 Months Ended
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Dec. 31, 2012
Goodwill And Other Intangible Assets [Abstract] |
Goodwill And Other Intangible Assets | NOTE 6. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill There was an increase in goodwill during the year ended December 31, 2012 from $38,226 to $57,481 due to the Company’s acquisition of POC on July 2, 2012 and PIEPS on October 1, 2012. Based on the results of the Company’s annual impairment tests completed during the fourth quarter, the Company determined that goodwill was not impaired. The following table summarizes the changes in goodwill:
Balance at December 31, 2010 |  | $ | 38,226
Balance at December 31, 2011 |  | $ | 38,226
Increase due to acquisitions |  |  | 18,220
Impact of foreign currency exchange rates |  |  | 1,035
Balance at December 31, 2012 |  | $ | 57,481
Indefinite Lived Intangible Assets The Company owns certain tradenames and trademarks which provide Black Diamond Equipment, Ltd. (“Black Diamond Equipment” or “BDEL”), Gregory Mountain Products, Inc. (“Gregory” or “GMP”), POC, and PIEPS with the exclusive and perpetual rights to manufacture and sell their respective products. Tradenames and trademarks will not be amortized, but reviewed annually for impairment or upon the existence of a triggering event. There was an increase in tradenames and trademarks during the year ended December 31, 2012 due to the Company’s acquisition of POC on July 2, 2012 and PIEPS on October 1, 2012. Based on the results of the Company’s annual impairment tests, the Company determined that indefinite lived intangible assets were not impaired. The following table summarizes the changes in indefinite lived intangible assets:
Balance at December 31, 2011 |  | $ | 32,650
Increase due to acquisitions |  |  | 17,800
Impact of foreign currency exchange rates |  |  | 1,012
Balance at December 31, 2012 |  | $ | 51,462
Definite Lived Intangible Assets, net Intangible assets such as certain customer relationships, core technologies and product technologies are amortizable over their estimated useful lives. There was an increase in gross definite lived intangible assets during the year ended December 31, 2012 due to the Company’s acquisition of POC on July 2, 2012 and PIEPS on October 1, 2012. The following table summarizes the changes in gross definite lived intangible assets:
Gross balance at December 31, 2011 |  | $ | 18,215
Increase due to acquisitions |  |  | 23,000
Impact of foreign currency exchange rates |  |  | 1,285
Gross balance at December 31, 2012 |  | $ | 42,500
Intangible assets, net of amortization as of December 3 1, 2012 and December 31, 2011, were as follows:
|  | December 31, 2012
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Useful Life
Intangibles subject to amortization |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 29,890 |  | $ | (3,498) |  | $ | 26,392 |  |  | 14.1 years
Product technologies |  |  | 8,868 |  |  | (421) |  |  | 8,447 |  |  | 15.3 years
Trade name |  |  | 2,237 |  |  | (56) |  |  | 2,181 |  |  | 20.0 years
Core technologies |  |  | 1,505 |  |  | (425) |  |  | 1,080 |  |  | 9.3 years
|  | $ | 42,500 |  | $ | (4,400) |  | $ | 38,100 |  |  | 14.5 years
|  | December 31, 2011
|  | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Useful Life
Intangibles subject to amortization |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 16,375 |  | $ | (1,730) |  | $ | 14,645 |  |  | 15.1 years
Product technologies |  |  | 335 |  |  | (116) |  |  | 219 |  |  | 4.6 years
Core technologies |  |  | 1,505 |  |  | (261) |  |  | 1,244 |  |  | 9.3 years
|  | $ | 18,215 |  | $ | (2,107) |  | $ | 16,108 |  |  | 14.4 years
Amortization expense for the years ended December 31, 2012, 2011, and 2010, was $2,268, $1,331, and $776, respectively. Future amortization expense for definite-lived intangible assets as of December 31, 2012 is as follows:
Format 2013 |  | $ | 3,532
Format 2014 |  |  | 3,514
Format 2015 |  |  | 3,133
Format 2016 |  |  | 2,652
Format 2017 |  |  | 2,652
Thereafter |  |  | 22,617
|  | $ | 38,100

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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 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 2: 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=7658586&loc=d3e16265-109275 Reference 3: 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=7658586&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 42, 43, 44, 45, 46, 47 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. 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 Reference 6: 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 + Details
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