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Luminex Corp – ‘10-K’ for 12/31/12 – ‘R14’

On:  Friday, 2/22/13, at 11:16am ET   ·   For:  12/31/12   ·   Accession #:  1033905-13-20   ·   File #:  0-30109

Previous ‘10-K’:  ‘10-K’ on 2/28/12 for 12/31/11   ·   Next:  ‘10-K’ on 2/26/14 for 12/31/13   ·   Latest:  ‘10-K’ on 2/26/21 for 12/31/20   ·   1 Reference:  By:  Luminex Corp. – Latest ‘10-K’ on 2/26/21 for 12/31/20

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/22/13  Luminex Corp                      10-K       12/31/12   89:15M

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.21M 
 2: EX-10.46    Material Contract                                   HTML     48K 
 3: EX-10.47    Material Contract                                   HTML     51K 
 4: EX-21.1     Subsidiaries List                                   HTML     22K 
 5: EX-23.1     Consent of Experts or Counsel                       HTML     25K 
 6: EX-31.1     Certification -- §302 - SOA'02                      HTML     29K 
 7: EX-31.2     Certification -- §302 - SOA'02                      HTML     29K 
 8: EX-32.1     Certification -- §906 - SOA'02                      HTML     24K 
 9: EX-32.2     Certification -- §906 - SOA'02                      HTML     24K 
61: R1          Document And Entity Information                     HTML     52K 
48: R2          Consolidated Balance Sheets                         HTML    140K 
59: R3          Consolidated Balance Sheets (Parenthetical)         HTML     52K 
63: R4          Consolidated Statements of Operations               HTML    115K 
82: R5          Condensed Consolidated Statements of Cash Flows     HTML    137K 
50: R6          Consolidated Statements of Changes in               HTML    100K 
                Stockholders' Equity                                             
58: R7          Description of Business and Summary of Significant  HTML    114K 
                Accounting Policies                                              
44: R8          Business Combinations                               HTML     96K 
34: R9          Investments                                         HTML     85K 
83: R10         Accounts Receivable and Reserves                    HTML     44K 
65: R11         Inventory, Net                                      HTML     36K 
64: R12         Fair Value Measurements                             HTML     78K 
70: R13         Property and Equipment                              HTML     44K 
71: R14         Goodwill and Other Intangible Assets                HTML    154K 
68: R15         Other Assets                                        HTML     42K 
72: R16         Accrued Warranty Costs                              HTML     35K 
60: R17         Income Taxes                                        HTML    169K 
62: R18         Long-Term Debt                                      HTML     46K 
67: R19         Net Income Per Share                                HTML     50K 
89: R20         Stockholders Equity and Comprehensive Income        HTML     39K 
78: R21         Employee Benefit Plans and Stock-Based              HTML    207K 
                Compensation                                                     
54: R22         Commitments and Contingencies                       HTML     43K 
66: R23         Guarantees                                          HTML     26K 
56: R24         Segment and Geographic Information                  HTML    108K 
26: R25         Subsequent Events                                   HTML     26K 
79: R26         Recent Accounting Pronouncements                    HTML     35K 
86: R27         Selected Quarterly Results (Unaudited)              HTML     67K 
39: R28         Description of Business and Summary of Significant  HTML    199K 
                Accounting Policies (Policies)                                   
38: R29         Description of Business and Summary of Significant  HTML     54K 
                Accounting Policies (Tables)                                     
42: R30         Business Combinations (Tables)                      HTML     69K 
43: R31         Investments (Tables)                                HTML     85K 
45: R32         Accounts Receivable and Reserves (Tables)           HTML     43K 
23: R33         Inventory, Net (Tables)                             HTML     32K 
76: R34         Fair Value Measurements (Tables)                    HTML     71K 
52: R35         Property and Equipment (Tables)                     HTML     42K 
55: R36         Goodwill and Other Intangible Assets (Tables)       HTML    148K 
29: R37         Other Assets (Tables)                               HTML     35K 
88: R38         Accrued Warranty Costs (Tables)                     HTML     34K 
16: R39         Income Taxes (Tables)                               HTML    157K 
46: R40         Long-Term Debt (Tables)                             HTML     35K 
81: R41         Net Income Per Share (Tables)                       HTML     46K 
28: R42         Employee Benefit Plans and Stock-Based              HTML    152K 
                Compensation (Tables)                                            
37: R43         Commitments and Contingencies (Tables)              HTML     31K 
41: R44         Segment and Geographic Information (Tables)         HTML    103K 
49: R45         Selected Quarterly Results (Tables)                 HTML     64K 
22: R46         Description of Business and Summary of Significant  HTML     75K 
                Accounting Policies (Details)                                    
33: R47         Description of Business and Summary of Significant  HTML     72K 
                Accounting Policies (Details 2)                                  
18: R48         Business Combinations (Details)                     HTML    161K 
80: R49         Investments (Details)                               HTML     70K 
27: R50         Accounts Receivable and Reserves (Details)          HTML     42K 
77: R51         Inventory, Net (Details)                            HTML     38K 
30: R52         Fair Value Measurements (Details)                   HTML     37K 
47: R53         Fair Value Measurements (Details 2)                 HTML     37K 
17: R54         Property and Equipment (Details)                    HTML     46K 
21: R55         Goodwill and Other Intangible Assets (Details)      HTML     82K 
40: R56         Goodwill and Other Intangible Assets (Details 2)    HTML    105K 
24: R57         Other Assets (Details)                              HTML     64K 
84: R58         Accrued Warranty Costs (Details)                    HTML     33K 
51: R59         Income Taxes (Details)                              HTML    270K 
69: R60         Long-Term Debt (Details)                            HTML     92K 
32: R61         Net Income Per Share (Details)                      HTML     72K 
35: R62         Stockholders Equity and Comprehensive Income        HTML     31K 
                (Details)                                                        
75: R63         Employee Benefit Plans and Stock Based              HTML    101K 
                Compensation (Details)                                           
73: R64         Employee Benefit Plans and Stock-Based              HTML    182K 
                Compensation (Details 2)                                         
53: R65         Employee Benefit Plans and Stock-Based              HTML     69K 
                Compensation (Details 3)                                         
74: R66         Employee Benefit Plans and Stock-Based              HTML     40K 
                Compensation (Details 4)                                         
31: R67         Commitments and Contingencies (Details)             HTML     59K 
57: R68         Segment and Geographic Information (Details)        HTML     49K 
85: R69         Segment and Geographic Information (Details 2)      HTML     64K 
20: R70         Subsequent Events (Details)                         HTML     24K 
25: R71         Selected Quarterly Results (Details)                HTML     53K 
87: XML         IDEA XML File -- Filing Summary                      XML    135K 
36: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS   2.41M 
10: EX-101.INS  XBRL Instance -- lmnx-20121231                       XML   3.54M 
12: EX-101.CAL  XBRL Calculations -- lmnx-20121231_cal               XML    219K 
13: EX-101.DEF  XBRL Definitions -- lmnx-20121231_def                XML    668K 
14: EX-101.LAB  XBRL Labels -- lmnx-20121231_lab                     XML   2.18M 
15: EX-101.PRE  XBRL Presentations -- lmnx-20121231_pre              XML   1.16M 
11: EX-101.SCH  XBRL Schema -- lmnx-20121231                         XSD    211K 
19: ZIP         XBRL Zipped Folder -- 0001033905-13-000020-xbrl      Zip    321K

‘R14’   —   Goodwill and Other Intangible Assets

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v2.4.0.6
GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS
NOTE 8 - GOODWILL AND OTHER INTANGIBLE ASSETS

On July 11, 2012, the Company completed the acquisition of GenturaDx.  As a result, the Company recorded approximately $8.3 million of goodwill and approximately $40.1 million of other identifiable intangible assets.  In 2011, as a result of the acquisition of LMA, the Company recorded approximately $0.5 million of goodwill and $20.0 million of other identifiable intangible assets.   For impairment testing purposes, the Company has assigned all of the GenturaDx and LMA goodwill to the ARP segment.   This goodwill is not expected to be deductible for tax purposes.

The changes in the carrying amount of goodwill during the period are as follows (in thousands):

 
2012
 
2011
Balance at beginning of year
$
42,763

 
$
42,250

Acquisition of GenturaDx
8,292

 
—

Acquisition of LMA
—

 
532

Foreign currency translation adjustments
73

 
(19
)
Balance at end of year
$
51,128

 
$
42,763



As a result of the acquisition of LMA in 2011, the Company acquired amortizable identifiable intangible assets consisting of developed technology of $11.3 million, customer lists and contracts of $6.7 million, licensing and other agreements of $1.0 million, trade name of $0.7 million and in process research and development of $0.3 million.  These will be amortized over their estimated lives of ten to twelve years for the developed technology; ten years for the customer lists and contracts; five years for the software related developed technology; eleven years for the licensing and other agreements; and one year for the trade name and non-compete agreements.   

The current in process research and development projects are scheduled to be completed in 2013 and 2014. The estimated costs to complete these projects are between $10.0 and $15.0 million. During the fourth quarter of 2012, one of the in-process research and development projects from the BSD acquisition was abandoned and written off for $118,000.








The Company’s intangible assets are reflected in the table below (in thousands, except weighted average lives):
 
Finite-lived
 
Indefinite-lived
 
 
 
Technology, trade secrets and know-how
 
Customer lists and contracts
 
Other identifiable intangible assets
 
IP R&D
 
Total
2011
 
 
 
 
 
 
 
 
 
$
18,407

 
$
1,285

 
$
283

 
$
712

 
$
20,687

Additions due to acquisition of LMA
11,332

 
6,697

 
1,652

 
286

 
19,967

Completion of IP R&D projects
270

 
—

 
—

 
(270
)
 
—

Write-off of  IP R&D projects
—

 
—

 
—

 
(92
)
 
(92
)
Foreign currency translation adjustments
(9
)
 
(1
)
 
(2
)
 
(5
)
 
(17
)
30,000

 
7,981

 
1,933

 
631

 
40,545

Less: accumulated amortization:
 

 
 

 
 

 
 

 
 

Accumulated amortization balance at December 31, 2010
(7,362
)
 
(308
)
 
(73
)
 
—

 
(7,743
)
Amortization expense
(2,642
)
 
(461
)
 
(272
)
 
—

 
(3,375
)
Foreign currency translation adjustments
5

 
1

 
4

 
—

 
10

Accumulated amortization balance at December 31, 2011
(9,999
)
 
(768
)
 
(341
)
 
—

 
(11,108
)
Net balance at December 31, 2011
$
20,001

 
$
7,213

 
$
1,592

 
$
631

 
$
29,437

Weighted average life (in years)
10

 
11

 
9

 
 

 
 

 
 
 
 
 
 
 
 
 
 
2012
 

 
 

 
 

 
 

 
 

$
30,000

 
$
7,981

 
$
1,933

 
$
631

 
$
40,545

Additions due to acquisition of GenturaDx
—

 
—

 
—

 
40,100

 
40,100

Completion of IP R&D projects
—

 
—

 
—

 
—

 
—

Write-off of  IP R&D projects
—

 
—

 
—

 
(118
)
 
(118
)
Foreign currency translation adjustments
30

 
5

 
8

 
14

 
57

30,030

 
7,986

 
1,941

 
40,627

 
80,584

Less: accumulated amortization:
 

 
 

 
 

 
 

 
 

Accumulated amortization balance at December 31, 2011
(9,999
)
 
(768
)
 
(341
)
 
—

 
(11,108
)
Amortization expense
(3,187
)
 
(790
)
 
(266
)
 
—

 
(4,243
)
Foreign currency translation adjustments
(7
)
 
(2
)
 
(6
)
 
—

 
(15
)
Accumulated amortization balance at December 31, 2012
(13,193
)
 
(1,560
)
 
(613
)
 
—

 
(15,366
)
Net balance at December 31, 2012
$
16,837

 
$
6,426

 
$
1,328

 
$
40,627

 
$
65,218

Weighted average life (in years)
10

 
11

 
9

 
 

 
 



The estimated aggregate amortization expense for the next five years and thereafter is as follows (in thousands):

2013
$
4,121

2014
4,092

2015
3,322

2016
3,107

2017
2,147

Thereafter
7,802

 
24,591

IPR&D
40,627

 
$
65,218

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/22/134,  8-K
For Period end:12/31/124
7/11/12
12/31/1110-K,  ARS
12/31/1010-K,  5,  ARS
9/15/09
 List all Filings 

1 Subsequent Filing that References this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/26/21  Luminex Corp.                     10-K       12/31/20   69:9.1M
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Filing Submission 0001033905-13-000020   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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