Goodwill and Identifiable Intangible Assets
 12 Months Ended
Dec. 31, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Identifiable Intangible Assets

Note 17: Goodwill and Identifiable Intangible Assets

In accordance with authoritative guidance, goodwill is tested at the reporting unit level annually for impairment and in interim periods if certain events occur indicating the fair value of a reporting unit may be below its carrying value.

As discussed in Note 2, “Discontinued Operations,” on May 16, 2012, the Company completed the sale of substantially all of the assets and certain liabilities of Ascension to AIS.

In connection with the preparation of its financial statements and based, in part, on the anticipated disposition of Ascension, the Company performed an interim goodwill impairment test for Ascension as of March 31, 2012, and concluded that Ascension’s entire goodwill balance of $9.9 million was impaired. Additionally, the Company wrote-off Ascension’s remaining identifiable intangible assets of approximately $0.4 million as of March 31, 2012.

As of December 31, 2012, the Company has two reporting units that carry goodwill: portfolio purchasing and recovery and tax lien transfer. Annual testing is performed as of October 1 st for the portfolio purchasing and recovery reporting unit and as of April 1 st for the tax lien transfer reporting unit.

 

The Company’s acquired intangible assets are summarized as follows (in thousands):

 

                                                 
    As of December 31, 2012     As of December 31, 2011  
    Gross
Carrying
Amount		     Accumulated
Amortization		     Net
Carrying
Amount		     Gross
Carrying
Amount		     Accumulated
Amortization		     Net
Carrying
Amount		  

Intangible assets subject to amortization:

                                                

Customer relationships

   $ —       $ —       $ —       $ 6,000     $ (5,538 )    $ 462  

Trade name and other

     570       (83 )      487       —         —         —    
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total intangible assets subject to amortization

   $ 570     $ (83 )    $ 487     $ 6,000     $ (5,538 )    $ 462  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Intangible assets not subject to amortization:

                                                

Goodwill—portfolio purchasing and recovery

                   $ 6,047                     $ 6,047  

Goodwill—tax lien transfer

                     49,399                       —    

Goodwill—bankruptcy servicing

                     —                         9,938  
                   

 

 

                    

 

 

  

Total goodwill

                   $ 55,446                     $ 15,985