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Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets, Net [Abstract]

Note 10 - Goodwill and Intangible Assets, Net

A. Goodwill

	December 31,
	2015			2014
	U.S. Dollars
Goodwill		3,653			3,653
Accumulated impairment losses		(3,653	)		(2,098	)

		-			1,555

1. Printar

During 2015, delays in marketing the Gryphon system resulted in an impairment of the Company’s goodwill and IPR&D recorded in the Printar acquisition. As of December 31, 2015, based on the Company’s annual impairment tests, an impairment charge of $1,555 was recognized for the remaining goodwill recorded in the Printar acquisition. The impairment charge was recorded in a separate line item within operating expenses in the consolidated statement of operations. See also Note 1(B).

As of December 31, 2014, based on the Company’s annual impairment tests, no impairment charge was recognized for the goodwill recorded in the Printar acquisition.

2. SELA

During the fourth quarter of 2013, the Company announced that it will not continue with development of future models of its Xact product line. This resulted in an impairment of the Company’s remaining goodwill with respect to SELA in the amount of $24. The impairment charge was recorded in a separate line item within operating expenses in the consolidated statement of operations. See also Note 1(B).

B. Intangible assets, net

	December 31,
	2015		2014
	U.S. Dollars
Patent registration costs		2,077		1,959
IPR&D		1,002		1,002

Intangible assets at cost		3,079		2,961

Accumulated amortization and impairment		2,284		2,033

Total intangible asset, net		795		928

Patent registration costs are amortized over their estimated useful life of 10 years.

Amortization expense for the years ended December 31, 2015, 2014 and 2013 amounted to $211, $234 and $421, respectively. The amortization expense for 2015 includes the write-off of patents with a net value of $7 which were abandoned (in 2014 and 2013 - $37 and $33, respectively).

In 2015, the Company recorded an impairment charge of $40 with respect to the IPR&D based on the annual impairment test as determined using the present value of future cash flows (see also Note 10A). The impairment charge was recorded in a separate line item within operating expenses in the consolidated statement of operations.

As of December 31, 2015, the estimated amortization expenses of intangible assets for the years 2016 to 2020 is as follows:

Year ending December 31,	U.S. Dollars
2016		141
2017		133
2018		133
2019		133
2020		111
		651

- 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.

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