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INTANGIBLES AND OTHER ASSETS | 9 Months Ended
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Sep. 30, 2012
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangibles And Other Assets | INTANGIBLES AND OTHER ASSETS Long-lived intangible assets and other assets consisted of the following:
| Dollars in Thousands
| September 30, 2012 |  | December 31, 2011
| Cost |  | Accumulated Amortization |  | Net Book Value |  | Cost |  | Accumulated Amortization |  | Net Book Value
Intangibles—acquired technology | $ | 9,100 |  |  | $ | 1,594 |  |  | $ | 7,506 |  |  | $ | 6,535 |  |  | $ | 911 |  |  | $ | 5,624 |
Intangibles—assay royalties | 1,434 |  |  | 359 |  |  | 1,075 |  |  | 1,434 |  |  | 205 |  |  | 1,229 |
Intangibles—third party payor relationships | 367 |  |  | — |  |  | 367 |  |  | 367 |  |  | — |  |  | 367 |
Intangibles—tradenames and trademarks | 842 |  |  | 86 |  |  | 756 |  |  | 344 |  |  | 49 |  |  | 295 |
Intangibles—customer relationships | 695 |  |  | — |  |  | 695 |  |  | — |  |  | — |  |  | — |
Intangibles—covenants not to compete | 277 |  |  | — |  |  | 277 |  |  | — |  |  | — |  |  | — |
Patents | 915 |  |  | 266 |  |  | 649 |  |  | 703 |  |  | 267 |  |  | 436 |
Intellectual property | 170 |  |  | 10 |  |  | 160 |  |  | 20 |  |  | 5 |  |  | 15 |
| $ | 13,800 |  |  | $ | 2,315 |  |  | $ | 11,485 |  |  | $ | 9,403 |  |  | $ | 1,437 |  |  | $ | 7,966 |
| Estimated Useful Life
Intellectual property | 10 years
Patents | life of patent
Intangibles—acquired technology | 7 – 15 years
Intangibles—third party payor relationships | Indefinite
Intangibles—customer relationships | 5 years
Intangibles—covenants not to compete | 3 years
Intangibles—tradenames and trademarks | 7 years
Other assets include U.S. security deposits and deferred tax assets, net of applicable valuation allowances. Amortization expense for intangible assets was $0.3 million during each of the three months ended September 30, 2012 and 2011. Amortization expense for intangible assets was $0.9 million during the nine months ended September 30, 2012 and $1.0 million during the nine months ended September 30, 2011. Amortization expense for intangible assets is expected to be $1.7 million in each of the years 2013 through 2017. On September 21, 2012, we acquired certain intangible assets from Axial Biotech, Inc. ("Axial") related to the ScoliScore TM assay. In consideration for the purchase of the intangible assets, we made a cash payment of approximately $3.4 million to Axial and certain of its creditors. In addition, following the transfer of all of the assets related to the ScoliScore TM assay and confirmation that the ScoliScore TM assay operates, within our laboratories pursuant to protocol agreed upon by us and Axial, we will pay an additional $1.0 million to Axial and certain of its creditors, $0.1 million which will be placed into escrow for a period of one year from the closing of the transaction to secure Axial's indemnification obligations for, among other things, any breach of, or default under, any of Axial's representations, warranties, covenants or agreements contained in the asset purchase agreement. This acquisition provides us with the ScoliScore TM assay technology and intellectual property, and an established revenue and customer base. The following intangible assets were each valued separately using valuation approaches most appropriate for each specific asset.
Intangibles—acquired technology | Relief from Royalty Method
Intangibles—tradenames | Relief from Royalty Method
Intangibles—customer relationships | Multi-Period Excess Earnings Method
Intangibles—covenants not to compete | With and Without Method
Patents | Relief from Royalty Method
The Income Approach uses valuation techniques to convert future amounts, cash flows or earnings, to a single, discounted amount. The fair value measure is based on the value that is indicated by market expectations about the present value of those future amounts. The Relief from Royalty Method assumes that if the Company did not have proprietary ownership of the genetic testing processes on which its revenues depend, it might elect to lease the rights or licenses from another company. The fair value is measured as the estimated discounted cash flows of the royalty payments avoided by ownership. The Multi Period Excess Earnings Method measures the fair value as the estimated discounted cash flows of the existing customer relationships over a period during which revenues form existing customer relationships are assumed to have been substantially replaced by revenues from future customers. The With and Without Method measures the fair value of the non-competition agreements as the probability adjusted difference between the estimated discounted cash flows with and without the effect of competition. The model that includes competition includes lost revenues as well as increased expenses required to rebuild the lost revenues. The assets acquired were $4.2 million in identifiable intangible assets and $0.2 million in goodwill. No liabilities were assumed. The acquired assets are reported as a component of our laboratory services segment. The goodwill arising from the acquisition has been assigned to our Laboratory Services segment and is expected to be deductible for tax purposes. The amounts we have recorded for the allocation of our indefinite intangible assets and goodwill are preliminary and amounts may change when the acquisition accounting is completed.

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