Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v2.4.1.9
Goodwill and Other Intangible Assets
3 Months Ended
Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
The change in the carrying amount of goodwill, in thousands, for the three months ended March 31, 2015 is as follows:
Balance at January 1, 2015
$
193,378

Other
7

Balance at March 31, 2015
$
193,385


Other intangible assets consisted of the following at March 31, 2015 and December 31, 2014:
 
 
 
March 31, 2015
 
December 31, 2014
 
Weighted Average Amortization Period
 
Carrying
Amount
 
Accumulated
Amortization
 
Net
 
Carrying
Amount
 
Accumulated
Amortization
 
Net
 
(in thousands)
Finite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Developed technologies
3.2 years
 
$
55,308

 
$
(41,533
)
 
$
13,775

 
$
55,212

 
$
(39,343
)
 
$
15,869

Customer relationships
8.9 years
 
86,753

 
(46,834
)
 
39,919

 
86,753

 
(44,264
)
 
42,489

Vendor relationships
4.0 years
 
5,650

 
(5,399
)
 
251

 
5,650

 
(5,273
)
 
377

Total finite-lived intangible assets
6.6 years
 
147,711

 
(93,766
)
 
53,945

 
147,615

 
(88,880
)
 
58,735

Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Trade names
 
 
40,812

 

 
40,812

 
41,350

 

 
41,350

Total intangible assets
 
 
$
188,523

 
$
(93,766
)
 
$
94,757

 
$
188,965

 
$
(88,880
)
 
$
100,085


Amortization of finite-lived intangible assets was $4.9 million and $5.0 million for the three months ended March 31, 2015 and 2014, respectively.
In March 2015, the Company completed the integration of the InstaManager and Kigo platforms into a single solution licensed under the Kigo name. Subsequent to this integration, InstaManager ceased to exist as a separate solution and the Company discontinued the use of the trade name to market or identify the software. Additionally, subsequent to the integration, the Company ceased use of the trade name in customer-facing communications, removed the dedicated website maintained by the Company for the InstaManager product and ceased separately identifying costs and revenues for Kigo and InstaManager. Due to these changes in circumstance, the Company evaluated the InstaManager trade name for impairment and concluded an impairment in the amount of $0.5 million existed at March 31, 2015. The charge related to this impairment is included in "General and administrative" in the accompanying Consolidated Statements of Operations.