XML 50 R12.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Composition of Certain Financial Statement Items | 3 Months Ended
--- | ---
Mar. 31, 2014
Composition of Certain Financial Statement Items [Text Block] | Note 5 – Composition of Certain Financial Statement Items Amounts receivable The Company’s amounts receivable are primarily related to the operations of its asset liquidation business. With respect to auction proceeds and asset dispositions, the goods are not released to the buyer until payment has been received, and therefore the Company has not experienced any significant collectability issues relating to these receivables. Given this experience, together with the ongoing business relationships between the Company and its joint venture partners, the Company has not yet been required to develop a policy for formal credit quality assessment. The Company has also not experienced any significant collectability issues with receivables relating to appraisal fees. As the Company’s asset liquidation business continues to develop, more comprehensive credit assessments may be required. During the first three months of 2014, there were no changes in the Company’s accounting policies for financing receivables, and therefore no related change in the current-period provision for credit losses. During the same period, there were no purchases, sales or reclassifications of financing receivables. There were no troubled debt restructurings during the first three months of either 2014 or 2013. Intangible assets The Company’s intangible assets are related to its asset liquidation business. On February 29, 2012 the Company acquired HGP for a total purchase price of $7,080, of which $5,640 was assigned to identifiable intangible assets, as shown below. The Customer/Broker Network intangible asset is being amortized over 12 years, and the Trade Name intangible asset is being amortized over 14 years. No impairment resulted from the completion of the impairment tests at December 31, 2013, and there have been no events or circumstances in 2014 that would make it more likely than not that the carrying amount of the intangible assets may not be recoverable.
|  | March 31, |  |  | December 31, |
|  | 2014 |  |  | 2013 |
Customer/Broker Network | $ | 4,180 |  | $ | 4,180 |
Accumulated amortization |  | (726 | ) |  | (639 | )
|  | 3,454 |  |  | 3,541 |
Trade Name |  | 1,460 |  |  | 1,460 |
Accumulated amortization |  | (217 | ) |  | (191 | )
|  | 1,243 |  |  | 1,269 |
Total net intangible assets | $ | 4,697 |  | $ | 4,810 |
Goodwill The Company’s goodwill is related to its asset liquidation business. As part of its acquisition of Equity Partners in June 2011, the Company recognized goodwill of $573. No goodwill impairment resulted from the completion of the impairment tests at December 31, 2013, and there have been no events or changes in circumstances in 2014 that make it more likely than not that the carrying amount of this goodwill may be impaired. As part of its acquisition of HGP in February 2012, the Company recognized goodwill of $4,728. No goodwill impairment resulted from the completion of the impairment tests at December 31, 2013, and there have been no events or changes in circumstances in 2014 that make it more likely than not that the carrying amount of this goodwill may be impaired. Accounts payable and accrued liabilities Accounts payable and accrued liabilities consisted of the following at March 31, 2014 and December 31, 2013:
|  | March 31, |  |  | December 31, |
|  | 2014 |  |  | 2013 |
Due to auction clients | $ | 2,139 |  | $ | 3,586 |
Due to Joint Venture partners |  | 615 |  |  | 639 |
Sales and other taxes |  | 1,293 |  |  | 966 |
Customer deposits |  | 5 |  |  | 50 |
Remuneration and benefits |  | 485 |  |  | 579 |
Asset liquidation expenses |  | 60 |  |  | 76 |
Auction expenses |  | 304 |  |  | 135 |
Regulatory and legal fees |  | 57 |  |  | 45 |
Accounting, auditing and tax consulting |  | 182 |  |  | 153 |
Patent licensing and maintenance |  | 4 |  |  | 25 |
Other |  | 224 |  |  | 256 |
Total accounts payable and accrued liabilities | $ | 5,368 |  | $ | 6,510 |

X
- Definition The entire disclosure relating to composition of certain financial statement captions. + References No definition available. + Details
Name: | hgbl_CompositionOfCertainFinancialStatementCaptionsTextBlock
Namespace Prefix: | hgbl_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration