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Goodwill

9 Months Ended

Sep. 30, 2012

(12) Goodwill

Changes in the carrying amount of goodwill for the nine months ended September, 2012 are as follows (in thousands):


Balance as of December 31, 2011	$	82,644
Jingle acquisition		(53	)
Other		(28	)

Balance as of September 30, 2012	$	82,563

Goodwill is tested annually for impairment and is tested for impairment more frequently if events and circumstances indicate that the asset is more likely than not impaired. Events and circumstances considered in determining whether the carrying value of goodwill may be impaired include, but are not limited to, significant changes in performance relative to expected operating results, significant changes in the use of the assets, significant negative industry or economic trends, or a significant decline in the Company’s stock price and/or market capitalization for a sustained period of time.

At various points in time during the nine months ended September 30, 2012, the Company’s stock price approached and traded below the then book value per share. If the Company’s stock price were to trade below the book value per share for an extended period of time and/or the Company experiences changes in its business, including changes in projected earnings and cash flows, the Company may have to recognize an impairment of all or some portion of goodwill.

The current business environment is subject to evolving market conditions and requires significant management judgment to interpret the potential impact to our assumptions. To the extent that changes in the current business environment impact the Company’s ability to achieve levels of forecasted operating results and cash flows, or should other events occur indicating the remaining carrying value of its assets might be impaired, the Company would test its goodwill and intangible assets for impairment and may recognize an additional impairment loss to the extent that the carrying amount exceeds such asset’s fair value. The Company will continue to monitor its financial performance, stock price and other factors in order to determine if there are any indicators of impairment prior to its annual impairment evaluation in the fourth quarter of 2012.