Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v2.4.0.8
Goodwill and Intangible Assets
9 Months Ended
Jun. 30, 2013
Goodwill and Intangible Assets  
Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

 

The changes in goodwill for the nine months ended June 30, 2013 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

 

(512

)

(2,354

)

(2,866

)

Balance as of June 30, 2013

 

$

63,070

 

$

46,225

 

$

109,295

 

 

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

 

 

 

As of June 30, 2013

 

As of September 30, 2012

 

 

 

Cost

 

Accumulated
Amortization

 

Intangible
Assets, net

 

Cost

 

Accumulated
Amortization

 

Intangible
Assets, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer contracts and relationships

 

$

19,265

 

$

4,237

 

$

15,028

 

$

20,167

 

$

3,082

 

$

17,085

 

Technology based intangible assets

 

8,859

 

5,643

 

3,216

 

9,114

 

4,909

 

4,205

 

Trademark

 

4,409

 

1,093

 

3,316

 

4,450

 

497

 

3,953

 

Non-compete arrangements

 

238

 

202

 

36

 

254

 

167

 

87

 

Total

 

$

32,771

 

$

11,175

 

$

21,596

 

$

33,985

 

$

8,655

 

$

25,330

 

 

The Company’s intangible assets have a weighted average remaining life of 5.8 years, comprising 6.4 years for customer contracts and relationships, 4.7 years for technology-based intangible assets, 4.2 years for the trademark, and 0.6 years for non-compete arrangements. Amortization expense for the nine months ended June 30, 2013 and 2012 was $3.5 million and $0.8 million, respectively. Estimated future amortization expense is as follows (in thousands):

 

Three months ended September 30, 2013

 

$

1,077

 

Year ended September 30, 2014

 

3,926

 

Year ended September 30, 2015

 

3,851

 

Year ended September 30, 2016

 

3,794

 

Year ended September 30, 2017

 

3,395

 

Year ended September 30, 2018

 

2,699

 

Thereafter

 

2,854

 

Total

 

$

21,596