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
|
|
|