PGI » Topics » Goodwill and Intangible Assets

This excerpt taken from the PGI 10-Q filed Aug 9, 2007.

Goodwill and Intangible Assets

        Summarized below are the carrying value and accumulated amortization of intangible assets that continue to be amortized under SFAS No. 142, “Accounting For Goodwill and Other Intangible Assets” (SFAS No. 142) (in thousands):

June, 30, 2007
December 31, 2006
Gross
Carrying
Value

Accumulated
Amortization

Net Carrying
Value

Gross Carrying
Value

Accumulated
Amortization

Net Carrying
Value

Intangible assets subject to            
  amortization $158,933   $(126,778 ) $32,155   $157,788   $(119,431 ) $38,357  

        Intangible assets are amortized on a straight-line basis with an estimated useful life between one and five years. Amortization expense for the intangible assets above is expected to be approximately $7.2 million for the remainder of 2007, $11.5 million in 2008, $7.7 million in 2009, $3.3 million in 2010 and $1.4 million in 2011.

        Goodwill and intangible assets by reportable segment at June 30, 2007 and December 31, 2006 are as follows (in thousands):

North
America

Europe
Asia
Pacific

Total
Goodwill carrying value at December 31, 2006 $268,458   $22,556   $4,171   $295,185  
Additions and adjustments 1,872   649   299   2,820  
 
 
 
 
 
Goodwill carrying value at June 30, 2007 $270,330   $23,205   $4,470   $298,005  
 
 
 
 
 
                 
Intangibles carrying value at December 31, 2006 $  33,327   $  3,582   $1,448   $  38,357  
Additions and adjustments 699   146   99   944  
Amortization (6,239 ) (692 ) (215 ) (7,146 )
 
 
 
 
 
Intangibles carrying value at June 30, 2007 $  27,787   $  3,036   $1,332   $  32,155  
 
 
 
 
 

 
  7 

PREMIERE GLOBAL SERVICES, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)

This excerpt taken from the PGI 10-Q filed May 10, 2007.

Goodwill and Intangible Assets

     Summarized below are the carrying value and accumulated amortization of intangible assets that continue to be amortized under SFAS No. 142, “Accounting For Goodwill and Other Intangible Assets” (SFAS No. 142) (in thousands):

6


     PREMIERE GLOBAL SERVICES, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)

            March, 31, 2007                   December 31, 2006        
      Gross
Carrying
Value
    Accumulated
Amortization
      Net
Carrying
Value
    Gross
Carrying
Value
    Accumulated
Amortization
      Net
Carrying
Value
                             
                             
Intangible assets subject to                                        
amortization   $ 158,126   $ (123,061 )   $ 35,065   $    157,788   $ (119,431 )   $    38,357

     Intangible assets are amortized on a straight-line basis with an estimated useful life between three and five years. Amortization expense for the intangible assets above is expected to be approximately $10.7 million for the remainder of 2007, $11.4 million in 2008, $7.6 million in 2009, $3.2 million in 2010 and $1.2 million in 2011.

     Goodwill and intangible assets by reportable segment at March 31, 2007 and December 31, 2006 are as follows (in thousands):

      North               Asia          
         America       Europe       Pacific          Total  
                                 
Goodwill carrying value at December 31, 2006   $ 268,458     $ 22,556     $ 4,171     $ 295,185  
Additions and adjustments     (101 )     346       113       358  
Goodwill carrying value at March 31, 2007   $ 268,357     $ 22,902     $ 4,284     $ 295,543  
                                 
Intangibles carrying value at December 31, 2006   $ 33,327     $ 3,582     $ 1,448     $ 38,357  
Additions and adjustments     111       116       35       262  
Amortization     (3,108 )     (340 )     (104 )     (3,552 )
Intangibles carrying value at March 31, 2007   $ 30,330     $ 3,358     $ 1,379     $ 35,067  

This excerpt taken from the PGI 10-Q filed Aug 9, 2006.

Goodwill and Intangible Assets

     Summarized below are the carrying value and accumulated amortization of intangible assets that continue to be amortized under SFAS No. 142, “Accounting For Goodwill and Other Intangible Assets” (SFAS No. 142) (in thousands):

6


PREMIERE GLOBAL SERVICES, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)
   
June, 30, 2006
     
December 31, 2005
    Gross      Net    Gross      Net 
    Carrying    Accumulated   Carrying    Carrying    Accumulated   Carrying 
    Value    Amortization   Value    Value    Amortization   Value 
Intangible assets subject 
                   
     to amortization 
  $149,970   
$(112,890)
  $37,080    $146,012   
$(106,350)
  $39,662 

     Intangible assets are amortized on a straight-line basis with an estimated useful life between three and five years. Amortization expense for the intangible assets above is expected to be approximately $6.3 million for the remainder of 2006, $12.6 million in 2007, $9.7 million in 2008, $6.0 million in 2009, $1.6 million in 2010 and $63,000 in 2011.

This excerpt taken from the PGI 10-Q filed May 9, 2006.
Goodwill and Intangible Assets

     Summarized below are the carrying value and accumulated amortization of intangible assets that continue to be amortized under SFAS No. 142, “Accounting For Goodwill and Other Intangible Assets” (SFAS No. 142) (in thousands):

    March, 31, 2006   December 31, 2005















    Gross      Net    Gross        Net 
    Carrying    Accumulated   Carrying    Carrying    Accumulated     Carrying 
    Value    Amortization   Value    Value    Amortization     Value 
   
 
 
 
 
   
Intangible assets subject                       
to amortization      $149,211      $(109,618)   $39,593    $146,012      $(106,350)       $39,662 

     Intangible assets are amortized on a straight-line basis with an estimated useful life between three and five years. Amortization expense for the intangible assets above is expected to be approximately $9.4 million for the remainder of 2006, $12.5 million in 2007, $9.6 million in 2008, $5.9 million in 2009, $1.6 million in 2010 and $50,000 in 2011.

This excerpt taken from the PGI 10-Q filed Nov 8, 2005.

Goodwill and Intangible Assets

 

Summarized below are the carrying value and accumulated amortization of intangible assets that continue to be amortized under SFAS No. 142 (in thousands):

 

     September 30, 2005

   December 31, 2004

     Gross
Carrying
Value


   Accumulated
Amortization


    Net
Carrying
Value


   Gross
Carrying
Value


   Accumulated
Amortization


    Net
Carrying
Value


Intangible assets subject to amortization

   $ 146,674    $ (103,301 )   $ 43,373    $ 133,976    $ (93,386 )   $ 40,590

 

Intangible assets are amortized on a straight-line basis with an estimated useful life between three and five years. Amortization expense for the intangible assets above is expected to be approximately $3.5 million for the remainder of 2005, $12.0 million in both 2006 and 2007, $9.1 million in 2008, $5.3 million in 2009 and $1.0 million in 2010.

 

Effective January 1, 2002, we adopted SFAS No. 142. It requires that goodwill and certain intangible assets will no longer be subject to amortization, but instead will be subject to a periodic impairment assessment by applying a fair value based test based upon a two-step method. The first step is to identify potential goodwill impairment by comparing the estimated fair value of the reporting units to their carrying amounts. The second step measures the amount of the impairment based upon a comparison of “implied fair value” of goodwill with its carrying value. At September 30, 2005, we completed an impairment analysis of our Data Communications business segment as a result of the decline in legacy services, primarily broadcast fax and no impairment was identified. The balance of goodwill was $255.2 million and $192.1 million as of September 30, 2005 and December 31, 2004, respectively.

 

This excerpt taken from the PGI 10-Q filed Aug 9, 2005.

Goodwill and Intangible Assets

 

Summarized below are the carrying value and accumulated amortization of intangible assets that continue to be amortized under SFAS No. 142 (in thousands):

 

     June 30, 2005

   December 31, 2004

     Gross
Carrying
Value


   Accumulated
Amortization


    Net
Carrying
Value


   Gross
Carrying
Value


   Accumulated
Amortization


    Net
Carrying
Value


Intangible assets subject to amortization

   $ 141,916    $ (99,735 )   $ 42,181    $ 133,976    $ (93,386 )   $ 40,590

 

Intangible assets are amortized on a straight-line basis with an estimated useful life between three and five years. Amortization expense for the intangible assets above is expected to be approximately $6.7 million for the remainder of 2005, $11.1 million in both 2006 and 2007, $8.2 million in 2008, $4.4 million in 2009 and $0.4 million in 2010.

 

3. RESTRUCTURING COSTS

 

Consolidated restructuring costs at December 31, 2004 and June 30, 2005 are as follows (in thousands):

 

Consolidated


   Accrued Costs at
December 31, 2004


   2005 Charge
to Operations


   Payments/
Reversals


   Accrued Costs at
June 30, 2005


Accrued restructuring costs:

                           

Severance and exit costs

   $ 114    $ 592    $ 259    $ 447

Contractual obligations

     4,676      —        394      4,282
    

  

  

  

Accrued restructuring costs

   $ 4,790    $ 592    $ 653    $ 4,729
    

  

  

  

 

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Table of Contents

PREMIERE GLOBAL SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

This excerpt taken from the PGI 10-Q filed May 6, 2005.

Goodwill and Intangible Assets

 

Summarized below are the carrying value and accumulated amortization of intangible assets that continue to be amortized under SFAS No. 142 (in thousands):

 

     March, 31, 2005

   December 31, 2004

     Gross
Carrying
Value


   Accumulated
Amortization


    Net
Carrying
Value


   Gross
Carrying
Value


   Accumulated
Amortization


    Net
Carrying
Value


Intangible assets subject to amortization

   $ 139,799    $ (96,457 )   $ 43,342    $ 133,976    $ (93,386 )   $ 40,590

 

Intangible assets are amortized on a straight-line basis with an estimated useful life between three and five years. Amortization expense for the intangible assets above is expected to be approximately $9.9 million for the remainder of 2005, $10.7 million in both 2006 and 2007, $7.8 million in 2008, $3.9 million in 2009 and $0.3 million in 2010.

 

7


Table of Contents

PREMIERE GLOBAL SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

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