Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v2.4.1.9
Intangible Assets
3 Months Ended
Mar. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

8. INTANGIBLE ASSETS

The following is a summary of intangible assets as of March 31, 2015 and December 31, 2014:

 

 

 

Customer
Relationships

 

 

Other
Intangible
Assets

 

 

Total

 

Cost

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2015

  

$

17,560

  

 

$

1,663

  

 

$

19,223

  

Balance, March 31, 2015

  

 

17,560

 

 

 

1,663

 

 

 

19,223

  

Useful lives

  

 

10-20 years

 

 

 

3-5 years

 

 

 

 

 

Accumulated amortization

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2015

  

 

(6,627

)

 

 

(1,429

)

 

 

(8,056

)

Amortization expense

  

 

(292

)

 

 

(31

)

 

 

(323

)

Balance, March 31, 2015

  

 

(6,919

)

 

 

(1,460

)

 

 

(8,379

)

Net book value

  

$

10,641

 

 

$

203

 

 

$

10,844

  

Cost

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2014

  

$

17,560

  

 

$

1,663

  

 

$

19,223

  

Balance, December 31, 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

  

 

(1,217

)

 

 

(205

)

 

 

(1,422

)

Balance, December 31, 2014

 

 

(6,627

)

 

 

(1,429

)

 

 

(8,056

)

Net Book Value

  

 $

10,933

 

 

 $

234

 

 

 $

11,167

 

 

Amortization expense related to intangible assets was $323 and $360 for the three months ended March 31, 2015 and 2014, 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:

 

2015 (remainder of)

  

$

968

  

2016

  

 

1,236

  

2017

  

 

1,135

  

2018

  

 

1,001

  

2019

  

 

720

 

Thereafter

  

 

5,784

 

Total

  

$

10,844