Goodwill |
9 Months Ended |
|---|---|
Sep. 30, 2016 | |
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| Goodwill | GOODWILL Goodwill as of September 30, 2016 of $216.9 million remained unchanged from December 31, 2015. We conduct our annual impairment testing during the fourth fiscal quarter, or more frequently if indicators of impairment exist, such as changes to our reporting unit structure or significant adverse changes in the business climate. On September 1, 2016 and September 29, 2016, we announced that we were not awarded the renewal of two of our largest contracts, the Kuwait-based Army Pre-Positioned Stocks-5 (APS-5 Kuwait) and Kuwait Base Operations and Security Support Services (K-BOSSS), respectively. Following these announcements, our common stock price declined from $27.63 on September 29, 2016 to $15.23 on September 30, 2016. We considered these events as indicators of a potential goodwill impairment and performed an interim goodwill impairment test pursuant to ASC 350, Intangibles, Goodwill and Other. We completed the first step in the two-step process of the impairment test to measure the magnitude of any impairment by developing an estimated fair value of the reporting unit and comparing it to the carrying value of the reporting unit. We developed our estimate of the fair value of our reporting unit using an income approach and a market approach. Under the income approach, we estimated fair value based on the present value of estimated future cash flows. Under the market approach, we compared our company to selected reasonably comparable publicly-traded companies. Based on our analysis, the estimated fair value of the reporting unit exceeded its carrying value, and we determined there was no goodwill impairment as of September 30, 2016. |