Cash America 2015 Annual Report Download - page 106

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Goodwill
ChangesinthecarryingvalueofgoodwillfortheyearsendedDecember31,2015and2014areshownin
the table below (dollars in thousands):
2015 2014
Balance as of January 1, $487,569 $495,214
Acquisitions 453 165
Divestitures —(7,508)
Effect of foreign currency translations —(302)
Balance as of December 31, $488,022 $487,569
Acquired Intangible Assets
AcquiredintangibleassetssubjecttoamortizationasofDecember31,2015and2014,wereasfollows
(dollars in thousands):
As of December 31,
2015 2014
Cost
Accumulated
Amortization Net Cost
Accumulated
Amortization Net
Non-competition agreements $18,928 $(15,098)$ 3,830 $18,848 $(13,520)$ 5,328
Customer relationships 45,763 (25,131)20,632 45,771 (20,407)25,364
Trademarks and other 586 (494)92 586 (451)135
Total $65,277 $(40,723)$ 24,554 $65,205 $(34,378)$ 30,827
Acquired intangible assets subject to amortization are amortized on a straight-line basis. Non-competition
agreements are amortized over the applicable terms of the contract, typically from two to ten years. Customer
relationships are generally amortized over three to ten years, based on the period over which economic benefits are
provided. Trademarks are generally amortized from one to three years.
Amortization
Amortization expense for acquired intangible assets was $6.4 million, $6.6 million and $5.5 million for the
yearsendedDecember31,2015,2014and2013,respectively.
ForeachofthefiveyearsfollowingDecember31,2015,estimatedfutureamortizationexpenseisas
follows (dollars in thousands):
2016 2017 2018 2019 2020 Total
Estimated future amortization expense 6,079 5,491 5,190 4,747 2,355 $23,862
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
102