NOTE 2: GOODWILL AND OTHER INTANGIBLE ASSETS
The change in the carrying amount of goodwill is as follows (in thousands):
|
| | | | | | | |
| 2013 | | 2012 |
Balance, beginning of year | $ | 822,215 |
| | $ | 359,688 |
|
Acquisitions | 5,331 |
| | 462,232 |
|
Translation | 1,527 |
| | 295 |
|
Balance, end of year | $ | 829,073 |
| | $ | 822,215 |
|
The additions to goodwill are related to our acquisitions discussed in more detail in Note 8. We complete an impairment test on goodwill annually. This impairment test did not result in any impairment losses. There is no aggregate goodwill impairment for any of the periods presented.
A summary of our other intangible assets, with finite lives, which include primarily customer relationships and non-competition agreements, as of December 31 is as follows (in thousands):
|
| | | | | | | |
| 2013 | | 2012 |
Gross | $ | 148,917 |
| | $ | 149,644 |
|
Accumulated amortization | (33,325 | ) | | (14,108 | ) |
Net | $ | 115,592 |
| | $ | 135,536 |
|
Other intangible assets, with indefinite lives, are as follows (in thousands):
|
| | | | | | | |
| 2013 | | 2012 |
Trademarks | $ | 1,875 |
| | $ | 1,875 |
|
Amortization expense for other intangible assets was (in thousands):
|
| | | |
2013 | $ | 20,128 |
|
2012 | 6,308 |
|
2011 | 3,908 |
|
Intangible assets at December 31, 2013 will be amortized over the next seven years, and that expense is as follows (in thousands):
|
| | | |
2014 | $ | 18,719 |
|
2015 | 16,939 |
|
2016 | 16,922 |
|
2017 | 16,890 |
|
2018 | 16,225 |
|
Thereafter | 29,897 |
|
Total | $ | 115,592 |
|
