Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets (Table)

v3.3.1.900
Goodwill and Other Intangible Assets (Table)
12 Months Ended
Dec. 31, 2015
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

 

Impairments (3)

 

 

(20,669)

 

Balance at December 31, 2015

 

$

6,497

 


(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 determined the fair value of Skyhook and performed a Step 2 impairment test. 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). 

(3)

As discussed in note 2, as a result to the loss of one of TruePosition’s significant customers in December 2015, the Company determined the fair value of TruePosition and performed a Step 2 impairment test. The fair value of TruePosition, including the related intangibles and goodwill, was determined using TruePosition’s projections of future operating performance and applying a combination of market multiples (market approach) and discounted cash flow (income approach) calculations (Level 3). 

Schedule of intangible assets subject to amortization

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

December 31, 2014

 

 

 

Gross Carrying

 

Accumulated

 

Net Carrying

 

Gross Carrying

 

Accumulated

 

Net Carrying

 

 

 

Amount

 

Amortization

 

Amount

 

Amount

 

Amortization

 

Amount

 

Acquired patents

    

$

10,823

    

(6,872)

    

3,951

    

 

8,822

    

(5,801)

    

3,021

 

Tradename

 

 

2,838

 

(1,154)

 

1,684

 

 

2,788

 

(788)

 

2,000

 

Capitalized software

 

 

10,973

 

(10,857)

 

116

 

 

10,991

 

(10,597)

 

394

 

Customer relationships

 

 

10,212

 

(4,076)

 

6,136

 

 

10,212

 

(2,712)

 

7,500

 

 

 

$

34,846

 

(22,959)

 

11,887

 

 

32,813

 

(19,898)

 

12,915

 

 

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, 2015 is as follows (amounts in thousands):

 

 

 

 

 

2016

    

$

3,412

 

2017

 

 

3,335

 

2018

 

 

2,529

 

2019

 

 

1,742

 

2020

 

 

869

 

Total

 

$

11,887