Goodwill and Intangible Assets
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Apr. 30, 2012
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Goodwill and Intangible Assets |
6. Goodwill and Intangible Assets
Goodwill
Changes in the carrying amount of goodwill for the first three months of fiscal 2012 were as follows:
In late April and early May of 2012, as we were nearing a pending business transaction to sell the ODG business, we performed an impairment test of goodwill and long-lived assets of the Media Services segment. Based on our evaluation and the final selling price as well as other deal terms that were agreed to in the final purchase agreement executed on May 21, 2012, the carrying amount of goodwill in our former Media Services business exceeded the implied fair value, and thus resulted in a $17 million impairment charge which we recorded as part of our discontinued operating results as of April 30, 2012.
The goodwill balance excludes $594,000 of goodwill assigned to the divestiture of our broadcast storage and servers business unit and $2.9 million of goodwill assigned to the divestiture of our Media Services business unit that are included in non-current assets related to discontinued operations.
Intangible Assets
Intangible assets consisted of the following:
Estimated future amortization expenses related to the above intangible assets at April 30, 2012 are as follows:
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