Advertisement
Included within equipment are assets held under finance lease with a gross value of $53.7 million (2011 - $35.2 million) and accumulated depreciation of $18.4 million (2011 - $9.4 million). The lease obligations are secured by the leased equipment. At December 31, 2012, Trican had $93.0 million in idle equipment and $326.5 million in assets under construction which have not been depreciated. At December 31, 2012, there were no impairment losses recognized (2011 - nil).
NOTE 8 - INTANGIBLE ASSETS AND GOODWILL
Total(stated in Non-compete Customer CBM intangible thousands) Goodwill agreements relationships process asset----------------------------------------------------------------------------CostBalance at January 1, 2011 $36,916 $22,987 $13,154 $8,503 $44,644Acquisitions through business combinations 6,551 - - - -Effect of movements in exchange rates 239 468 191 - 659----------------------------------------------------------------------------Balance at December 31, 2011 $43,706 $23,455 $13,345 $8,503 $45,303----------------------------------------------------------------------------Effect of movements in exchange rates (17) (462) (188) (3) (653)----------------------------------------------------------------------------Balance at December 31, 2012 $43,689 $22,993 $13,157 $8,500 $44,650----------------------------------------------------------------------------Amortization and impairment lossesBalance at January 1, 2011 $- $10,775 $9,866 $3,188 $23,829Amortization - 2,859 2,620 850 6,329Effect of movements in exchange rates - 293 190 - 483----------------------------------------------------------------------------Balance at December 31, 2011 $- $13,927 $12,676 $4,038 $30,641----------------------------------------------------------------------------Amortization - 2,992 554 849 4,395Effect of movements in exchange rates - (394) (73) - (467)----------------------------------------------------------------------------Balance at December 31, 2012 $- $16,525 $13,157 $4,887 $34,569----------------------------------------------------------------------------Carrying amountsAt December 31, 2011 $43,706 $9,528 $669 $4,465 $14,662At December 31, 2012 $43,689 $6,468 $- $3,613 $10,081--------------------------------------------------------------------------------------------------------------------------------------------------------
For the purposes of impairment testing, goodwill is allocated to the Company's operating segments. The aggregate carrying amount of goodwill allocated to each region is as follows:
December 31, December 31,(Stated in thousands) 2012 2011----------------------------------------------------------------------------Canada $22,690 $22,690International 20,999 21,016---------------------------------------------------------------------------- $43,689 $43,706----------------------------------------------------------------------------
