Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v2.4.0.6
Goodwill and Intangible Assets
3 Months Ended
Dec. 31, 2012
Goodwill and Intangible Assets  
Goodwill and Intangible Assets

5. Goodwill and Intangible Assets

 

The changes in goodwill for the three months ended December 31, 2012 are as follows (in thousands):

 

 

 

Health Services

 

Human Services

 

Total

 

Balance as of September 30, 2012

 

$

63,517

 

$

48,515

 

$

112,032

 

Changes to allocation of PSI purchase price

 

65

 

64

 

129

 

Foreign currency translation

 

(105

)

(35

)

(140

)

Balance as of December 31, 2012

 

$

63,477

 

$

48,544

 

$

112,021

 

 

The following table sets forth the components of intangible assets (in thousands):

 

 

 

As of December 31, 2012

 

As of September 30, 2012

 

 

 

Cost

 

Accumulated
Amortization

 

Intangible
Assets, net

 

Cost

 

Accumulated
Amortization

 

Intangible
Assets, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Technology-based intangible assets

 

$

9,062

 

$

5,169

 

$

3,893

 

$

9,114

 

$

4,909

 

$

4,205

 

Customer contracts and relationships

 

20,136

 

3,720

 

16,416

 

20,167

 

3,082

 

17,085

 

Trademark

 

4,442

 

692

 

3,750

 

4,450

 

497

 

3,953

 

Non-compete arrangements

 

251

 

181

 

70

 

254

 

167

 

87

 

Total

 

$

33,891

 

$

9,762

 

$

24,129

 

$

33,985

 

$

8,655

 

$

25,330

 

 

The Company’s intangible assets have a weighted average remaining life of 6.1 years, comprising 4.6 years for technology-based intangible assets, 6.9 years for customer contracts and relationships, 4.7 years for the trademark, and 1.1 years for non-compete arrangements. Amortization expense for the three months ended December 31, 2012 and 2011 was $1.1 million and $0.3 million, respectively. Future amortization expense is estimated as follows (in thousands):

 

Nine months ended September 30, 2013

 

$

3,427

 

Year ended September 30, 2014

 

3,963

 

Year ended September 30, 2015

 

3,887

 

Year ended September 30, 2016

 

3,830

 

Year ended September 30, 2017

 

3,431

 

Year ended September 30, 2018

 

2,728

 

Thereafter

 

2,863

 

Total

 

$

24,129