Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v2.4.0.8
Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill And Intangible Assets
Goodwill and Intangible Assets
Changes in the Company's intangible assets consisted of the following (in thousands):
 
 
 
 
 
 
 
Estimated Life
December 31, 2012
Additions/ Amortization
Other Net Adjustments
December 31, 2013
Intangible Assets:
 
 
 
 
 
Customer relationships
10
$
2,982

$

$

$
2,982

Developed technology
6
3,357



3,357

In-process research and development
6
1,310



1,310

Trademarks / trade names
15
2,122



2,122

Software
5
1,051


33

1,084


 
10,822


33

10,855

Less accumulated amortization
 
(858
)
(1,400
)
(19
)
(2,277
)
Total intangible assets, net
 
$
9,964

$
(1,400
)
$
14

$
8,578


Amortization expense associated with the developed technology and software intangible assets included in cost of product revenues was $772,000, $998,000 and $400,000 for the years ended December 31, 2013, 2012 and 2011 respectively. Amortization expense associated with other acquired intangible assets included in operating expenses as “amortization of purchased intangibles,” was $628,000, $952,000 and $223,000 for the years ended December 31, 2013, 2012 and 2011 respectively.
The Company estimates that amortization expense associated with intangible assets will be as follows (in thousands):
2014
$
1,402

2015
1,323

2016
1,186

2017
1,186

2018
1,047

Thereafter
2,434

 
$
8,578


The Company's cumulative goodwill impairment losses are as follows (in thousands):
 
December 31, 2013
December 31, 2012
 
Gross Carrying Amount
 
Cumulative Impairment Losses
Gross Carrying Amount
 
Cumulative Impairment Losses
Goodwill
$
22,218

 
$
(22,218
)
$
22,218

 
$
(22,218
)

On October 10, 2011, Qumu Corporation completed the acquisition of Qumu, Inc. and recognized $22.2 million of goodwill and $18.9 million of intangible assets attributable to the Company's enterprise video content management software segment. During the three months ended September 30, 2012, the Company recorded a $22.2 million goodwill and $7.3 million intangible asset impairment charge associated with its enterprise video content management software segment.