| Summary of Intangible Assets |
The following is a summary
of intangible assets as of June 30, 2013 and December 31,
2012:
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| |
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Customer
Relationships |
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Other
Intangible
Assets |
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Total |
|
|
Cost
|
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|
|
|
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|
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|
|
|
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Balance, January 1,
2013
|
|
$ |
15,910 |
|
|
$ |
1,566 |
|
|
$ |
17,476 |
|
|
Acquisition of certain
assets of Ten-Sixty
|
|
|
1,650 |
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|
|
97 |
|
|
|
1,747 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Balance, June 30,
2013
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|
|
17,560 |
|
|
|
1,663 |
|
|
|
19,223 |
|
|
|
|
|
|
Useful
lives
|
|
|
10-20 years |
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|
|
3-5 years |
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|
|
|
|
|
|
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Accumulated
amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
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Balance, January 1,
2013
|
|
|
(4,238 |
) |
|
|
(875 |
) |
|
|
(5,113 |
) |
|
Amortization
expense
|
|
|
(573 |
) |
|
|
(181 |
) |
|
|
(754 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
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Balance, June 30,
2013
|
|
|
(4,811 |
) |
|
|
(1,056 |
) |
|
|
(5,867 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net book
value
|
|
$ |
12,749 |
|
|
$ |
607 |
|
|
$ |
13,356 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1,
2012
|
|
$ |
15,910 |
|
|
$ |
1,566 |
|
|
$ |
17,476 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance,
December 31, 2012
|
|
|
15,910 |
|
|
|
1,566 |
|
|
|
17,476 |
|
|
|
|
|
|
Useful
lives
|
|
|
10-20
years |
|
|
|
3-5
years |
|
|
|
|
|
|
|
|
|
|
Accumulated
amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1,
2012
|
|
|
(3,144 |
) |
|
|
(522 |
) |
|
|
(3,666 |
) |
|
Amortization
expense
|
|
|
(1,094 |
) |
|
|
(353 |
) |
|
|
(1,447 |
) |
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|
|
|
|
|
|
|
|
|
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Balance,
December 31, 2012
|
|
|
(4,238 |
) |
|
|
(875 |
) |
|
|
(5,113 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net book
value
|
|
$ |
11,672 |
|
|
$ |
691 |
|
|
$ |
12,363 |
|
|
|
|
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| Schedule of Future Amortization Related to Intangible Assets |
Amortization related to the
Company’s finite life intangible assets is scheduled to be
expensed over the next five years and thereafter as
follows:
|
|
|
|
|
|
2013 (remainder
of)
|
|
$ |
769 |
|
|
2014
|
|
|
1,422 |
|
|
2015
|
|
|
1,291 |
|
|
2016
|
|
|
1,236 |
|
|
2017
|
|
|
1,135 |
|
|
Thereafter
|
|
|
7,503 |
|
|
|
|
|
|
|
Total
|
|
$ |
13,356 |
|
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|
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|