Annual report pursuant to Section 13 and 15(d)

Intangible Assets

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Intangible Assets
12 Months Ended
Dec. 31, 2011
Intangible Assets [Abstract]  
Intangible Assets

NOTE G – INTANGIBLE ASSETS

     Goodwill and intangible assets are tested annually for impairment, or more frequently if impairment indicators are present. Such indicators of impairment include, but are not limited to, changes in business climate, and operating or cash flow losses related to such assets. Goodwill and indefinite lived intangible assets are not amortized. Definite lived intangibles are amortized over their related useful lives.

     No events have occurred subsequent to any of our acquisitions that have resulted in an impairment of the original goodwill or intangible asset amounts that were initially recorded from the transactions. Goodwill is as follows:

  January 1,
2011
Currency
translation
adjustments
December 31,
2011
 
 
 
North America $ 6,390 $ - $ 6,390
Asia Pacific   10,877   473   11,350
  $ 17,267 $ 473 $ 17,740

 

Intangible assets are as follows:

  As of January 1, 2011  
  Gross carrying
amount
Accumulated
amortization
Net carrying
amount
Weighted-average
amortization
period (years)
 
 
Amortized intangible assets                
Trade name and trademarks $ 4,025 $ (151 ) $ 3,874 10
Customer relationships   1,961   (245 )   1,716 3
    5,986   (396 )   5,590  
 
Unamortized intangible assets                
Product formulas   8,875         8,875  
Direct sales license   27,450         27,450  
    36,325         36,325  
 
  $ 42,311       $ 41,915  

 

 

  As of December 31, 2011 Weighted-average
amortization
period (years)
  Gross carrying
amount
Accumulated
amortization
Net carrying
amount
 
 
Amortized intangible assets                
Trade name and trademarks $ 4,200 $ (577 ) $ 3,623 10
Customer relationships   2,046   (938 )   1,108 3
    6,246   (1,515 )   4,731  
 
Unamortized intangible assets                
Product formulas   9,261         9,261  
Direct sales license   28,645         28,645  
    37,906         37,906  
 
  $ 44,152       $ 42,637  

 

Aggregate amortization expense:    
Year ended December 31, 2011 $ 1,515
 
Estimated Amortization Expense:    
2012 $ 1,102
2013   846
2014   420
2015   420
2016   420
Thereafter   1,523
  $ 4,731