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This excerpt taken from the SFI 10-Q filed Nov 8, 2006. Identified intangible
assets and goodwill—Upon the
acquisition of a business, the Company records intangible assets acquired at
their estimated fair values separate and apart from goodwill. The Company
determines whether such intangible assets have finite or indefinite lives. As
of September 30, 2006, all such intangible assets acquired by the Company have
finite lives. The Company amortizes finite lived intangible assets based on the
period over which the assets are expected to contribute directly or indirectly
to the future cash flows of the business acquired. The Company reviews finite
lived intangible assets for impairment whenever events or changes in
circumstances indicate that their carrying amount may not be recoverable. The
Company recognizes impairment loss on finite lived intangible assets if the
carrying amount of an intangible asset is not recoverable and its carrying
amount exceeds its estimated fair value.
The excess of the cost of an acquired entity over the net of the amounts assigned to assets acquired (including identified intangible assets) and liabilities assumed is recorded as goodwill. Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test is done at a level of reporting referred to as a reporting unit. If the fair value of the reporting unit is less than its carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill within the reporting unit is less than its carrying value. Fair values for goodwill and other finite lived intangible assets are determined based on discounted cash flows or appraised values, as appropriate. During the first quarter 2005, the Company acquired Falcon Financial Investment Trust (“Falcon Financial”) in a business combination and identified finite lived intangible assets of approximately $2.0 million and goodwill of $7.7 million (see Note 4 for further discussion). These identified intangible assets are included in “Deferred expenses and other assets” on the Company’s Consolidated Balance Sheets. This excerpt taken from the SFI 10-Q filed Aug 8, 2006. Identified intangible assets and goodwill—Upon the acquisition of a business, the Company
records intangible assets acquired at their estimated fair values separate and
apart from goodwill. The Company determines whether such intangible assets have
finite or indefinite lives. As of June 30, 2006, all such intangible
assets acquired by the Company have finite lives. The Company amortizes finite
lived intangible assets based on the period over which the assets are expected
to contribute directly or indirectly to the future cash flows of the business
acquired. The Company reviews finite lived intangible assets for impairment
whenever events or changes in circumstances indicate that their carrying amount
may not be recoverable. The Company recognizes impairment loss on finite lived
intangible assets if the carrying amount of an intangible asset is not
recoverable and its carrying amount exceeds its estimated fair value.
The excess of the cost of an acquired entity over the net of the amounts assigned to assets acquired (including identified intangible assets) and liabilities assumed is recorded as goodwill. Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test is done at a level of reporting referred to as a reporting unit. If the fair value of the reporting unit is less than its carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill within the reporting unit is less than its carrying value. Fair values for goodwill and other finite lived intangible assets are determined based on discounted cash flows or appraised values, as appropriate. During the first quarter 2005, the Company acquired Falcon Financial Investment Trust (“Falcon Financial”) in a business combination and identified finite lived intangible assets of approximately $2.0 million and goodwill of $7.7 million (see Note 4 for further discussion). These identified intangible assets are included in “Deferred expenses and other assets” on the Company’s Consolidated Balance Sheets. This excerpt taken from the SFI 10-Q filed Nov 9, 2005. Identified intangible assets and
goodwill—Upon the acquisition of a business the Company
records intangible assets acquired at their estimated fair value separate and
apart from goodwill. The Company amortizes identified intangible assets that
are determined to have finite lives based on the period over which the assets
are expected to contribute directly or indirectly to the future cash flows of
the business acquired. Intangible assets subject to amortization are reviewed
for impairment whenever events or changes in circumstances indicate that their
carrying amount may not be recoverable. An impairment loss is recognized if the
carrying amount of an intangible asset is not recoverable and its carrying
amount exceeds its estimated fair value.
The excess of the cost of an acquired entity over the net of the amounts assigned to assets acquired (including identified intangible assets) and liabilities assumed is recorded as goodwill. Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test is done at a level of reporting referred to as a reporting unit. If the fair value of the reporting unit is less than its carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill within the reporting unit is less than its carrying value. Fair values for goodwill and other intangible assets are determined based on discounted cash flows or appraised values, as appropriate. During the first quarter 2005, the Company acquired Falcon Financial Investment Trust (“Falcon Financial”) in a business combination and identified intangible assets of approximately $2.0 million and goodwill of $7.7 million (see Note 4 for further discussion). These identified intangible assets are included in “Deferred expenses and other assets” on the Company’s Consolidated Balance Sheets. 10 iStar Financial Inc. Note 3—Summary of Significant Accounting Policies (Continued) This excerpt taken from the SFI 10-Q filed Aug 8, 2005. Identified intangible assets and
goodwill—Upon the acquisition of a business the Company
records intangible assets acquired at their estimated fair value separate and
apart from goodwill. The Company amortizes identified intangible assets that
are determined to have finite lives based on the period over which the assets
are expected to contribute directly or indirectly to the future cash flows of the
business acquired. Intangible assets subject to amortization are reviewed for
impairment whenever events or changes in circumstances indicate that their
carrying amount may not be recoverable. An impairment loss is recognized if the
carrying amount of an intangible asset is not recoverable and its carrying
amount exceeds its estimated fair value.
The excess of the cost of an acquired entity over the net of the amounts assigned to assets acquired (including identified intangible assets) and liabilities assumed is recorded as goodwill. Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test is done at a level of reporting referred to as a reporting unit. If the fair value of the reporting unit is less than its carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill within the reporting unit is less than its carrying value. Fair values for goodwill and other intangible assets are determined based on discounted cash flows or appraised values, as appropriate. 10 iStar Financial Inc. Note 3—Summary of Significant Accounting Policies (Continued) During the first quarter 2005, the Company acquired Falcon Financial Investment Trust (“Falcon Financial”) in a business combination and identified intangible assets of approximately $2.0 million and goodwill of $7.7 million (see Note 4 for further discussion). These identified intangible assets are included in “Deferred expenses and other assets” on the Company’s Consolidated Balance Sheets. | EXCERPTS ON THIS PAGE:
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