Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Purchased Intangibles

v3.7.0.1
Goodwill and Purchased Intangibles
3 Months Ended
Mar. 31, 2017
Goodwill and Purchased Intangibles [Abstract]  
Goodwill and Purchased Intangibles

4.  Goodwill and Purchased Intangibles



Goodwill



The carrying value of goodwill at March 31, 2017 and December 31, 2016 was $803,118.  



Intangible assets



The following table presents details of our purchased intangible assets as of March 31, 2017 and December 31, 2016:







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Balance at
December 31,
2016

 

Additions

 

Impairments

 

Amortization

 

Fx and Other

 

Balance at
March 31,
2017

Patents and trademarks

 

$

112,537 

 

$

6,550 

 

$

 -

 

$

(2,943)

 

$

112 

 

$

116,256 

Customer and merchant relationships

 

 

178,000 

 

 

 -

 

 

 -

 

 

(6,138)

 

 

 -

 

 

171,862 

Trade name

 

 

47,659 

 

 

 -

 

 

 -

 

 

(1,670)

 

 

11 

 

 

46,000 



 

$

338,196 

 

$

6,550 

 

$

 -

 

$

(10,751)

 

$

123 

 

$

334,118 



The intangible assets are being amortized on a straight-line basis over their estimated useful lives of one to twenty years.



Amortization expense for intangible assets was $10,751 and $53,379 for the three months ended March 31, 2017 and 2016, respectively.



The estimated future amortization expense of our intangible assets as of March 31, 2017 is as follows:







 

 

 



 

 

 

Year ending December 31,

 

Amount

2017

 

$

27,690 

2018

 

 

43,022 

2019

 

 

43,022 

2020

 

 

43,022 

2021

 

 

40,200 

Thereafter

 

 

137,162 

Total

 

$

334,118