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Goodwill And Intangible Assets | 3 Months Ended
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Mar. 31, 2018
Goodwill And Intangible Assets [Abstract] |
Goodwill And Intangible Assets | 4.GOODWILL AND INTANGIBLE ASSETS ﻿ Goodwill The Company test s goodwill for impairment as of October 1 each year, or more frequently as circumstances indicate it is necessary. Testing compares the estimated fair values of our reporting units to the reporting units’ carrying values. The reporting units with goodwill balances as of March 31, 2018 include the operations at CRA, CDR, CSA and CPL. The Company consider s a variety of factors whe n estimating the fair value of its reporting units, including estimates about the future operating results of each reporting unit, multiples of earnings, various market analyses, and recent sales of comparable businesses, if such information is available. The Company makes a variety of estimates and judgments about the relevance and comparability of these factors to the reporting units in estimating their fair values. If the carrying value of a reporting unit exceeds its estimated fair value, the fair value of each reporting unit is allocated to the reporting unit’s assets and liabilities to determine the implied fair value of the reporting unit’s goodwill and whether impairment is necessary. There have been no indications of impairment at CRA, CDR, CSA or CPL since the Company’s last annual analysis that would necessitate additional impairment testing by the Company. Changes in the carrying amount of goodwill related to CRA, CDR, CSA and CPL are as follows: ﻿
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﻿ |  | Canada |  | Poland |  |  |
﻿Amounts in thousands |  | Century Resorts Alberta |  | Century Downs |  | Century Casino St. Albert |  | Casinos Poland |  | Total
﻿Balance – December 31, 2017 |  | $ | 3,919 |  | $ | 151 |  | $ | 3,747 |  | $ | 7,345 |  | $ | 15,162
﻿Effect of foreign currency translation |  |  | (107) |  |  | (4) |  |  | (101) |  |  | 136 |  |  | (76)
﻿Balance -- March 31, 2018 |  | $ | 3,812 |  | $ | 147 |  | $ | 3,646 |  | $ | 7,481 |  | $ | 15,086
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﻿ Intangible Assets Trademarks The Company currently owns two trademarks, the Century Casinos trademark and the Casinos Poland trademark, which are reported as intangible assets on the Company’s condensed consolidated balance sheets. Changes in the carrying amount of the trademarks are as follows:
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﻿Amounts in thousands |  | Century Casinos |  | Casinos Poland |  | Total
﻿Balance – December 31, 2017 |  | $ | 108 |  | $ | 1,751 |  | $ | 1,859
﻿Effect of foreign currency translation |  |  | — |  |  | 32 |  |  | 32
﻿Balance -- March 31, 2018 |  | $ | 108 |  | $ | 1,783 |  | $ | 1,891
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The Company has determined both trademarks have indefinite useful lives and therefore the Company does not amortize the trademarks. Rather, the Company tests its trademarks for impairment as of October 1 each year, or more frequently as circumstances indicate it is necessary. The Company tests trademarks for impairment using the relief-from-royalty method. If the fair value of an indefinite-lived intangible asset is less than its carrying amount, the Company would recognize an impairment charge equal to the difference. There have been no indications of impairment related to the Century Casinos and Casinos Poland trademarks since the Company’s last annual analysis that would necessitate additional impairment testing by the Company. Casino Licenses Casino licenses consist of the following: ﻿
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﻿ |  | March 31, |  | December 31,
﻿Amounts in thousands |  | 2018 |  | 2017
﻿Finite-lived |  |  |  |  |  |
﻿Casino licenses |  | $ | 2,205 |  | $ | 2,992
﻿Less: accumulated amortization |  |  | (696) |  |  | (1,434)
﻿Total finite-lived casino licenses, net |  |  | 1,509 |  |  | 1,558
﻿Infinite-lived |  |  |  |  |  |
﻿Casino licenses |  |  | 13,222 |  |  | 13,507
﻿Total infinite-lived casino licenses |  |  | 13,222 |  |  | 13,507
﻿Casino licenses, net |  | $ | 14,731 |  | $ | 15,065
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﻿ Poland As of March 31, 2018, Casinos Poland had six casino licenses, each with an original term of six years, which are finite-lived intangible assets and are amortized over their respective useful lives. Changes in the carrying amount of the Casinos Poland licenses a re as follows: ﻿
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﻿Amounts in thousands |  |  | Casinos Poland
﻿Balance – December 31, 2017 |  | $ | 1,558
﻿Amortization |  |  | (78)
﻿Effect of foreign currency translation |  |  | 29
﻿Balance -- March 31, 2018 |  | $ | 1,509
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As of March 31, 2018, estimated amortization expense for the CPL casino licenses over the next five years was as follows: ﻿ ﻿
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﻿Amounts in thousands |  |  |
﻿2018 |  | $ | 291
﻿2019 |  |  | 277
﻿2020 |  |  | 262
﻿2021 |  |  | 262
﻿2022 |  |  | 246
﻿Thereafter |  |  | 171
﻿ |  | $ | 1,509
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These estimates do not reflect the impact of future foreign exchange rate changes or the continuation of the l icenses following their expiration. The weighted average period before the current casino licenses expire is 3.8 years. In Poland, gaming licenses are not renewable. Once a gaming license has expired, any gaming company can apply for the license. CPL’s licenses at the Krakow, Lodz, Plock and Poznan casinos have expired in 2018. CPL has applied for licenses in each of these cities. ﻿ Canada and Corporate and Other The licenses at CDR, CSA and SCCL are infinite-lived intangible assets that are not amortized. CDR holds licenses from the AGLC and HRA. CSA holds a license from the AGLC. SCCL holds licenses from the Great Britain Gambling Commission. No impairment charges related to the licenses have been recorded. Changes in the carrying amount of the licenses a re as follows: ﻿
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﻿ |  | Canada |  | Corporate and Other
﻿Amounts in thousands |  | Century Downs |  | Century Casino St. Albert |  | Saw Close Casino Ltd.
﻿Balance – December 31, 2017 |  | $ | 2,536 |  | $ | 9,744 |  | $ | 1,227
﻿Effect of foreign currency translation |  |  | (69) |  |  | (264) |  |  | 48
﻿Balance -- March 31, 2018 |  | $ | 2,467 |  | $ | 9,480 |  | $ | 1,275
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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 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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