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## NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

## 4. Goodwill 

Goodwill represents the excess of the purchase price over the fair market value of identifiable net assets acquired in business combinations. The Company adopted SFAS No. 142 in January 2002. SFAS 142 pro- vides that goodwill and certain other intangible assets no longer will be amortized for fiscal years beginning after December 15, 2001 but will be tested for impairment at least annually. The Company measures goodwill impairment by comparing the carrying value of its operating units, including goodwill, with the fair value of the operating unit measured by determining the present value of future cash flows. Significant declines in estimat- ed future cash flows could indicate potential impairment and trigger an impairment assessment. At December 31, 2002, the Company had unamortized goodwill in the amount of $36,093,277. Amortization expense related to goodwill was $2,154,000 and $2,033,000 for the years ended December 31, 2001 and 2000, respectively. 

The following table presents the Company’s net income assuming goodwill had not been amortized during the twelve months ended December 31, 2001 and December 31, 2000. 

<img src='content_image/65383.jpg'>

The changes in the carrying amount of goodwill by operating segment for the years ended December 31, 2002 and December 31, 2001 are as follows: 

<img src='content_image/65384.jpg'>

## 5. Other Intangible Assets 

Amortization expense for other intangible assets was $110,236, $0 and $0, for 2002, 2001 and 2000, respectively. Other intangible assets consisted of the following at December 31, 2002: 

<img src='content_image/65385.jpg'>

