ACTL » Topics » • Goodwill

These excerpts taken from the ACTL 10-K filed Mar 19, 2008.
• Goodwill
 
Our net goodwill was $30.2 million at the end of both 2007 and 2006. There was a slight decrease in goodwill as a result of the realization of certain net operating loss carryforwards associated with the Company’s fiscal 2000 acquisition of Gatefield. We had originally established a valuation allowance for a portion of the net operating loss carryforwards acquired in connection with the acquisition of Gatefield. To the extent such valuation allowance is subsequently reversed as a result of the realization of the deferred tax asset, SFAS No. 109 requires that the offsetting credit is recognized first as a reduction of goodwill.
 
Goodwill is recorded when consideration paid in an acquisition exceeds the fair value of the net tangible and intangible assets acquired. We account for goodwill in accordance with SFAS No. 142, “Goodwill and Other Intangible Assets,” which addresses the financial accounting and reporting standards for goodwill and other intangible assets subsequent to their acquisition. Under SFAS No. 142, we do not amortize goodwill, but instead test for impairment annually or more frequently if certain events or changes in circumstances indicate that the carrying value may not be recoverable. We completed our annual goodwill impairments tests during the fourth quarters of 2007 and 2006, and noted no indicators of impairment.
 
• Goodwill


 



Our net goodwill was $30.2 million at the end of both 2007
and 2006. There was a slight decrease in goodwill as a result of
the realization of certain net operating loss carryforwards
associated with the Company’s fiscal 2000 acquisition of
Gatefield. We had originally established a valuation allowance
for a portion of the net operating loss carryforwards acquired
in connection with the acquisition of Gatefield. To the extent
such valuation allowance is subsequently reversed as a result of
the realization of the deferred tax asset,
SFAS No. 109 requires that the offsetting credit is
recognized first as a reduction of goodwill.


 



Goodwill is recorded when consideration paid in an acquisition
exceeds the fair value of the net tangible and intangible assets
acquired. We account for goodwill in accordance with
SFAS No. 142, “Goodwill and Other Intangible
Assets,” which addresses the financial accounting and
reporting standards for goodwill and other intangible assets
subsequent to their acquisition. Under SFAS No. 142,
we do not amortize goodwill, but instead test for impairment
annually or more frequently if certain events or changes in
circumstances indicate that the carrying value may not be
recoverable. We completed our annual goodwill impairments tests
during the fourth quarters of 2007 and 2006, and noted no
indicators of impairment.


 




These excerpts taken from the ACTL 10-K filed Jan 22, 2008.
• Goodwill
 
Our net goodwill was $30.2 million at the end of 2006 compared to $32.1 million at the end of 2005. The decrease in goodwill is the result of the realization of certain net operating loss carryforwards associated with the Company’s fiscal 2000 acquisition of Gatefield. We had originally established a valuation allowance for a portion of the net operating loss carryforwards acquired in connection with the acquisition of Gatefield. To the extent such valuation allowance is subsequently reversed as a result of the realization of the deferred tax asset, FAS 109 requires that the offsetting credit is recognized first as a reduction of goodwill.
 
Goodwill is recorded when consideration paid in an acquisition exceeds the fair value of the net tangible and intangible assets acquired. At the beginning of 2002, we adopted SFAS No. 142, “Goodwill and Other Intangible Assets,” which addresses the financial accounting and reporting standards for goodwill and other intangible assets subsequent to their acquisition. Under SFAS No. 142, we do not amortize goodwill, but instead test for impairment annually or more frequently if certain events or changes in circumstances indicate that the carrying value may not be


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recoverable. We completed our annual goodwill impairments tests during the fourth quarter of 2006, and noted no indicators of impairment.
 
• Goodwill


 



Our net goodwill was $30.2 million at the end of 2006
compared to $32.1 million at the end of 2005. The decrease
in goodwill is the result of the realization of certain net
operating loss carryforwards associated with the Company’s
fiscal 2000 acquisition of Gatefield. We had originally
established a valuation allowance for a portion of the net
operating loss carryforwards acquired in connection with the
acquisition of Gatefield. To the extent such valuation allowance
is subsequently reversed as a result of the realization of the
deferred tax asset, FAS 109 requires that the offsetting
credit is recognized first as a reduction of goodwill.


 



Goodwill is recorded when consideration paid in an acquisition
exceeds the fair value of the net tangible and intangible assets
acquired. At the beginning of 2002, we adopted
SFAS No. 142, “Goodwill and Other Intangible
Assets,” which addresses the financial accounting and
reporting standards for goodwill and other intangible assets
subsequent to their acquisition. Under SFAS No. 142,
we do not amortize goodwill, but instead test for impairment
annually or more frequently if certain events or changes in
circumstances indicate that the carrying value may not be





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recoverable. We completed our annual goodwill impairments tests
during the fourth quarter of 2006, and noted no indicators of
impairment.


 




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