Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2011

Goodwill and Other Intangible Assets [Abstract]

3. GOODWILL AND OTHER INTANGIBLE ASSETS

The changes in goodwill by reportable segment for the six months ended June 30, 2011 are as follows:


	December 31,		Foreign Currency			June 30,
Segment	2010		Translation			2011
Protective Packaging	$	110,326	$	(26	)	$	110,300
Specialty Packaging		29,469		2,087			31,556

Total	$	139,795	$	2,061		$	141,856

The Company’s other intangible assets are summarized as follows:


	Average		June 30, 2011				December 31, 2010
	Life		Gross Carrying		Accumulated		Gross Carrying		Accumulated
	(Years)		Amount		Amortization		Amount		Amortization
Intangible assets subject to amortization:
Customer relationships		12	$	50,659	$	21,456	$	48,922	$	18,772
Patents		10		14,374		2,260		12,097		1,352
Non-compete agreements		2-5		4,944		3,551		4,902		3,319
Software		3		4,385		3,516		3,971		2,884
Land use rights and other		32		1,505		755		1,390		648
Trademarks and trade names		20		3,000		200		3,000		125
In-process research and development		10		—		—		2,200		183
Intangible assets not subject to amortization:
Trademarks and trade names				4,646		—		4,443		—

Total			$	83,513	$	31,738	$	80,925	$	27,283

Amortization expense related to intangible assets totaled $1,334 and $1,764 for the three months ended June 30, 2011 and 2010, respectively, and $3,258 and $2,953 for the six months ended June 30, 2011 and 2010, respectively.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details

Pregis Holding II CORP 10-Q