4. GOODWILL AND OTHER INTANGIBLE ASSETS

 

Goodwill by reporting segment of the Company consisted of the following:

 

		December 2013			September 2013
Wholesale Segment		$	4,436,950		$	4,436,950
Retail Segment		1,912,877			1,912,877
		$	6,349,827		$	6,349,827

 

Other intangible assets of the Company consisted of the following:

 

		December 2013			September 2013
Trademarks and tradenames		$	3,373,269		$	3,373,269
Non-competition agreement (less accumulated amortization of approximately $0.3 million at December 2013 and $0.2 million at September 2013)		241,667			266,667
Customer relationships (less accumulated amortization of $1.0 million and $0.9 million at December 2013 and September 2013, respectively)		1,114,792			1,181,042
		$	4,729,728		$	4,820,978

 

Goodwill, trademarks, and tradenames are considered to have indefinite useful lives and therefore no amortization has been taken on these assets. At December 2013, identifiable intangible assets considered to have finite lives were represented by customer relationships and the value of a non-competition agreement acquired as part of acquisitions. The customer relationships are being amortized over eight years and the value of the non-competition agreement is being amortized over five years. These intangible assets are evaluated for accelerated attrition or amortization adjustments if warranted. Amortization expense related to identifiable intangible assets was $0.1 million during both Q1 2014 and Q1 2013.

 

Estimated future amortization expense related to identifiable intangible assets with finite lives is as follows at December 2013:

 

		December 2013
Fiscal 2014 (1)		$	273,750
Fiscal 2015		365,000
Fiscal 2016		331,667
Fiscal 2017		265,000
Fiscal 2018		79,375
Thereafter		41,667
		$	1,356,459

 

(1)  Represents amortization for the remaining nine months of Fiscal 2014.