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Goodwill | 12 Months Ended
--- | ---
Dec. 31, 2012
Goodwill | 12. GOODWILL The following table presents goodwill as of December 31, 2012 and 2011:
|  | December 31, |
|  | 2012 |  |  | 2011 |
Cira SCM |  | $ | 3,121 |  |  | $ | 3,121 |
AFN acquisition |  |  | 110 |  |  |  | 110 |
JVB Holdings acquisition |  |  | 6,983 |  |  |  | 6,983 |
PrinceRidge acquisition |  |  | 899 |  |  |  | 992 |
Total |  | $ | 11,113 |  |  | $ | 11,206 |
The Company measures its goodwill impairment on an annual basis or when events indicate that goodwill may be impaired. The Company first assesses qualitative factors to determine whether it is “more likely than not” that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. Based on the results of the qualitative assessment, the Company then determines whether it needs to calculate the fair value of the reporting unit as part of the first step of the two-step goodwill impairment test. See note 4. Cira SCM Goodwill The goodwill attributable to Cira SCM relates to the Company’s acquisition of the 10% of Cira SCM that the Company did not already own in exchange for 189,901 membership units of the Company, from a non-controlling interest partner in July 2007. The annual testing date for Cira SCM is July 1. For the annual test on July 1, 2010, the Company determined that an impairment charge should be recorded related to the goodwill allocated to Cira SCM. The Company recognized an impairment charge of $5,607 in the third quarter of 2010. The charge was included in the consolidated statements of operations as impairment of goodwill and was reflected as a component of operating expenses. The Company determined the goodwill was not impaired as of July 1, 2011 and July 1, 2012. In addition to the annual tests, the Company identified three other triggering events at which time it tested the goodwill balance: Effective March 29, 2011, the Company sold its investment advisory agreements relating to advisory services to the Strategos Deep Value funds and certain separately managed accounts to the SCM Buyer (see note 5). The Company deemed the sale a triggering event and tested the Cira SCM goodwill for impairment. The Company determined that after the sale to the SCM Buyer during the first quarter of 2011, there was no impairment to the goodwill related to Cira SCM. During the second quarter of 2011, the Company received an incentive fee from the Strategos Deep Value funds related to a second fund that was liquidated. The Company deemed this event to be a triggering event as well; however, the Company concluded the remaining goodwill was not impaired. During the fourth quarter of 2012, the Company received an incentive fee from the Deep Value GP II related to the liquidation of a third Deep Value fund that was a master fund with an offshore feeder fund only. See notes 3-F and 15. The Company deemed this event to be a triggering event; however, the Company concluded that the remaining goodwill was not impaired. AFN Goodwill The annual impairment testing date for the AFN Goodwill is October 1. The first testing date following the Merger was October 1, 2010. The Company determined the goodwill was not impaired as of October 1, 2012, 2011, and 2010. JVB Holdings Goodwill During the year ended December 31, 2011, goodwill related to the acquisition of JVB Holdings increased $30 for net adjustments made during the measurement period to the fair values of the assets acquired and liabilities assumed. In the table above, this adjustment is reflected in the goodwill at December 31, 2011, in accordance with the accounting guidance for business combinations. See note 4. The annual impairment testing date for JVB Holdings Goodwill is January 1. The first testing date after the acquisition was January 1, 2012. The Company determined the goodwill was not impaired as of January 1, 2012 and 2013. PrinceRidge Goodwill The measurement period for the PrinceRidge acquisition expired on May 31, 2012. During the second quarter of 2012, the Company made a measurement period adjustment to the redeemable non-controlling interest with a corresponding adjustment to goodwill. The adjustment reduced goodwill and the redeemable non-controlling interest by $93. See note 4. The annual impairment testing date for PrinceRidge Goodwill is May 31. The first testing date after the acquisition was May 31, 2012. The Company determined the goodwill was not impaired as of May 31, 2012.

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- Definition The entire disclosure for goodwill. + References No definition available. + Details
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