| Intangible Assets |
8. INTANGIBLE ASSETS
The following is a summary of intangible assets as of September 30, 2014 and December 31, 2013:
|
|
|
Customer
Relationships
|
|
|
Other
Intangible
Assets
|
|
|
Total
|
|
|
Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2014
|
|
$
|
17,560
|
|
|
$
|
1,663
|
|
|
$
|
19,223
|
|
|
Balance, September 30, 2014
|
|
|
17,560
|
|
|
|
1,663
|
|
|
|
19,223
|
|
|
Useful lives
|
|
|
10-20 years
|
|
|
|
3-5 years
|
|
|
|
|
|
|
Accumulated amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2014
|
|
|
(5,410
|
)
|
|
|
(1,224
|
)
|
|
|
(6,634
|
)
|
|
Amortization expense
|
|
|
(913
|
)
|
|
|
(166
|
)
|
|
|
(1,079
|
)
|
|
Balance, September 30, 2014
|
|
|
(6,323
|
)
|
|
|
(1,390
|
)
|
|
|
(7,713
|
)
|
|
Net book value
|
|
$
|
11,237
|
|
|
$
|
273
|
|
|
$
|
11,510
|
|
|
Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2013
|
|
$
|
15,910
|
|
|
$
|
1,566
|
|
|
$
|
17,476
|
|
|
Acquisition of certain assets of Ten-Sixty
|
|
|
1,650
|
|
|
|
97
|
|
|
|
1,747
|
|
|
Balance, December 31, 2013
|
|
|
17,560
|
|
|
|
1,663
|
|
|
|
19,223
|
|
|
Useful lives
|
|
|
10-20 years
|
|
|
|
3-5 years
|
|
|
|
|
|
|
Accumulated amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2013
|
|
|
(4,238
|
)
|
|
|
(875
|
)
|
|
|
(5,113
|
)
|
|
Amortization expense
|
|
|
(1,172
|
)
|
|
|
(349
|
)
|
|
|
(1,521
|
)
|
|
Balance, December 31, 2013
|
|
|
(5,410
|
)
|
|
|
(1,224
|
)
|
|
|
(6,634
|
)
|
|
Net Book Value
|
|
$
|
12,150
|
|
|
$
|
439
|
|
|
$
|
12,589
|
|
Amortization expense related to intangible assets was $360 and $402 for the three months ended September 30, 2014 and 2013, respectively. Amortization expense related to intangible assets was $1,079 and $1,156 for the nine months ended September 30, 2014 and 2013, respectively.
Amortization related to the Company’s finite life intangible assets is scheduled to be expensed over the next five years and thereafter as follows:
|
2014 (remainder of)
|
|
$
|
343
|
|
|
2015
|
|
|
1,291
|
|
|
2016
|
|
|
1,236
|
|
|
2017
|
|
|
1,135
|
|
|
2018
|
|
|
1,001
|
|
|
Thereafter
|
|
|
6,504
|
|
|
Total
|
|
$
|
11,510
|
|
|