Current report filing

GOODWILL AND INTANGIBLES

v2.4.0.8
GOODWILL AND INTANGIBLES
12 Months Ended
Dec. 31, 2013
Goodwill And Intangibles  
GOODWILL AND INTANGIBLES
12. GOODWILL AND INTANGIBLES

The following table summarizes Newcastle’s intangibles from continuing operations related to its senior housing real estate and golf business:

                                       
    December 31, 2013   December 31, 2012  
    Gross               Gross              
    Carrying   Accumulated   Net Carrying   Carrying   Accumulated   Net Carrying  
    Amount   Amortization   Value   Amount   Amortization   Value  
Amortizable intangible assets:                                      
In-place resident lease intangibles   $ 112,267   $ (21,902 ) $ 90,365   $ 22,711   $ (4,205 ) $ 18,506  
Non-compete intangibles     1,600     (223 )   1,377     600     (20 )   580  
Land lease intangibles     3,498     (1 )   3,497              
PILOT intangible     3,700     (124 )   3,576              
Other intangibles     2,046     (2 )   2,044              
Total Senior Housing     123,111     (22,252 )   100,859     23,311     (4,225 )   19,086  
Trade name     700         700              
Leasehold intangibles     52,066         52,066              
Management contracts     39,000         39,000              
Internally-developed software     800         800              
Membership base     5,400         5,400              
Total Golf     97,966         97,966              
Total   $ 221,077   $ (22,252 ) $ 198,825   $ 23,311   $ (4,225 ) $ 19,086  
Nonamortizable intangible assets:                                      
Liquor license-Golf     900         900                    
Total   $ 221,977   $ (22,252 ) $ 199,725                    

The unamortized balance of intangible assets from continuing operations at December 31, 2013 are expected to be charged to amortization expense as follows:

         
2014   $ 55,143  
2015     42,830  
2016     26,970  
2017     10,012  
2018     9,251  
Thereafter     54,619  
    $ 198,825  

 

The following table summarizes Newcastle’s goodwill and intangibles from discontinued operations related to its media business:

 

                                       
    December 31, 2013   December 31, 2012  
    Gross               Gross              
    Carrying   Accumulated   Net Carrying   Carrying   Accumulated   Net Carrying  
    Amount   Amortization   Value   Amount   Amortization   Value  
Amortizable intangible assets:                                      
Advertiser relationships     58,269     (359 )   57,910              
Customer relationships     5,666     (35 )   5,631              
Subscriber relationships     35,966     (221 )   35,745              
Trade name     268     (3 )   265              
Total   $ 100,169   $ (618 ) $ 99,551   $     $     $    
Nonamortizable intangible assets:                                      
Mastheads-Media     45,849         45,849                    
Goodwill     126,686         126,686                    
Total Media   $ 272,704   $ (618 ) $ 272,086                    

The changes in the carrying amount of goodwill, included in discontinued operations, for the year ended December 31, 2013 are as follows:

 

         
Gross balance at January 1, 2013   $  
Business combination     126,686  
Net balance at December 31, 2013   $ 126,686