As of June 31, 2012 and December 31, 2011 the goodwill balance was fully impaired with accumulated impairment charges of $64.1 million.

As of June 30, 2011, based on a combination of factors, including a decline in our market capitalization, updated business forecasts, and the expiration of our warrants, management concluded that there were sufficient indicators to require an interim goodwill and indefinite lived intangibles impairment analysis. For the purposes of this analysis, management’s estimates of fair value were based on a combination of the income approach, which estimates the fair value based on the future discounted cash flows, and the market approach, which estimates the fair value based on comparable market prices. As a result of this analysis, a $44.2 million non-cash asset impairment charge was recorded, representing management’s best estimate of the impairment loss for the quarter ended June 30, 2011. Subsequently, an additional $23.4 million impairment was loss was recorded for the quarter ended September 30, 2011.

The carrying amount and accumulated amortization of intangible assets as of June 30, 2012 and December 31, 2011 were as follows (in thousands):

Expected annual amortization expense for intangible assets recorded as of June 30, 2012 is as follows (in thousands):