Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets (Table)

v2.4.1.9
Goodwill and Other Intangible Assets (Table)
 12 Months Ended
Dec. 31, 2014
Goodwill and Other Intangible Assets  
Schedule of changes in the carrying amount of goodwill

Changes in the carrying amount of TruePosition goodwill is as follows (amounts in thousands):

 

 

 

 

 

 

Balance at January 1, 2013

    

$
20,669 

 

Other

 

 

 —

 

Balance at December 31, 2013

 

 
20,669 

 

Acquisitions (1)

 

 
24,931 

 

Impairments (2)

 

 
(18,434)

 

Balance at December 31, 2014

 

$
27,166 

 

(1)

As discussed in note 2, TruePosition acquired Skyhook on February 14, 2014.

(2)

As discussed in note 2, as a result to the loss of one of Skyhook’s significant customers in November 2014, the Company performed a Step 2 impairment test to determine the fair value of Skyhook. The fair value of Skyhook, including the related intangibles and goodwill, was determined using Skyhook’s projections of future operating performance and applying a combination of market multiples (market approach) and discounted cash flow (income approach) calculations (Level 3).  As of December 31, 2014 accumulated goodwill impairment losses for TruePosition was $18.4 million.

Schedule of intangible assets subject to amortization

Intangible assets subject to amortization are comprised of the following (amounts in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

December 31, 2013

 

 

 

Gross Carrying

 

Accumulated

 

Net Carrying

 

Gross Carrying

 

Accumulated

 

Net Carrying

 

 

 

Amount

 

Amortization

 

Amount

 

Amount

 

Amortization

 

Amount

 

Acquired patents

    

$
8,822 

    
(5,801)

    
3,021 

    

 
3,110 

    
(3,085)

    
25 

 

Trademarks

 

 
2,788 

 
(788)

 
2,000 

 

 

 —

 

 —

 

 —

 

Capitalized software

 

 
10,991 

 
(10,597)

 
394 

 

 
10,694 

 
(10,290)

 
404 

 

Customer relationships

 

 
10,212 

 
(2,712)

 
7,500 

 

 

 —

 

 —

 

 —

 

 

 

$
32,813 

 
(19,898)

 
12,915 

 

 
13,804 

 
(13,375)

 
429 

 

 

Schedule of estimated future amortization expense for the next five years related to intangible assets with definite lives

The estimated future amortization expense for the next five years related to intangible assets with definite lives as of December 31, 2014 is as follows (amounts in thousands):

 

 

 

 

 

2015

    

$
3,265 

 

2016

 

 
3,170 

 

2017

 

 
3,063 

 

2018

 

 
3,035 

 

2019

 

 
382 

 

Total

 

$
12,915