Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v2.4.1.9
Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2014
Goodwill and Intangible Assets [Abstract]  
Goodwill and Intangible Assets
 
(5) Goodwill and Intangible Assets

Changes in goodwill for the years ended December 31, 2014 and 2013 are as follows (in thousands):

 
 
Supply Chain Management
   
IT, Energy and Management Consulting
   
Total
 
Balance as of December 31, 2012
 
$
61,169
   
$
30,883
   
$
92,052
 
Balance as of December 31, 2013
 
$
61,169
   
$
30,883
   
$
92,052
 
Balance as of December 31, 2014
 
$
61,169
   
$
30,883
   
$
92,052
 

The results of our annual impairment testing indicated that the fair value of our reporting units exceeded their carrying values as of October 1, 2014.

Intangible assets consist of the value of contract-related assets, technologies and trade names. Amortization expense for the years ended December 31, 2014, 2013 and 2012 was approximately $10 million, $10.2 million and $11.2 million, respectively.

Intangible assets were composed of the following (in thousands):

 
 
Cost
   
Accumulated Amortization
   
Accumulated
Impairment Loss
   
Net Intangible Assets
 
December 31, 2014
 
   
   
   
 
Contract and customer-related
 
$
93,304
   
$
(33,840
)
 
$
(1,025
)
 
$
58,439
 
Acquired technologies
   
12,400
     
(4,024
)
   
-
     
8,376
 
Trade names – amortizable
   
10,100
     
(4,706
)
   
-
     
5,394
 
Total
 
$
115,804
   
$
(42,570
)
 
$
(1,025
)
 
$
72,209
 
                                 
December 31, 2013
                               
Contract and customer-related
 
$
93,304
   
$
(26,287
)
 
$
(1,025
)
 
$
65,992
 
Acquired technologies
   
12,400
     
(2,896
)
   
-
     
9,504
 
Trade names – amortizable
   
10,100
     
(3,339
)
   
-
     
6,761
 
Total
 
$
115,804
   
$
(32,522
)
 
$
(1,025
)
 
$
82,257
 

Future expected amortization of intangible assets is as follows for the years ending December 31, (in thousands):
 
 
 
Amortization
 
2015
 
$
9,439
 
2016
   
9,255
 
2017
   
9,255
 
2018
   
9,255
 
2019
   
9,190
 
Thereafter
   
25,815
 
Total
 
$
72,209