| Summary of Intangible Assets |
The following is a summary of intangible assets as of March 31, 2016 and December 31, 2015:
|
|
|
Customer
Relationships
|
|
|
Other
Intangible
Assets
|
|
|
Total
|
|
|
Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2016
|
|
$
|
22,560
|
|
|
$
|
2,467
|
|
|
$
|
25,027
|
|
|
Balance, March 31, 2016
|
|
|
22,560
|
|
|
|
2,467
|
|
|
|
25,027
|
|
|
Useful lives
|
|
|
10-20 years
|
|
|
|
3-5 years
|
|
|
|
|
|
|
Accumulated amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2016
|
|
|
(8,062
|
)
|
|
|
(1,634
|
)
|
|
|
(9,696
|
)
|
|
Amortization expense
|
|
|
(415
|
)
|
|
|
(71
|
)
|
|
|
(486
|
)
|
|
Balance, March 31, 2016
|
|
|
(8,477
|
)
|
|
|
(1,705
|
)
|
|
|
(10,182
|
)
|
|
Net book value
|
|
$
|
14,083
|
|
|
$
|
762
|
|
|
$
|
14,845
|
|
|
Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2015
|
|
$
|
17,560
|
|
|
$
|
1,663
|
|
|
$
|
19,223
|
|
|
Acquisition of Jamison
|
|
|
5,000
|
|
|
|
804
|
|
|
|
5,804
|
|
|
Balance, December 31, 2015
|
|
|
22,560
|
|
|
|
2,467
|
|
|
|
25,027
|
|
|
Useful lives
|
|
|
10-20 years
|
|
|
|
3-5 years
|
|
|
|
|
|
|
Accumulated amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2015
|
|
|
(6,627
|
)
|
|
|
(1,429
|
)
|
|
|
(8,056
|
)
|
|
Amortization expense
|
|
|
(1,435
|
)
|
|
|
(205
|
)
|
|
|
(1,640
|
)
|
|
Balance, December 31, 2015
|
|
|
(8,062
|
)
|
|
|
(1,634
|
)
|
|
|
(9,696
|
)
|
|
Net Book Value
|
|
$
|
14,498
|
|
|
$
|
833
|
|
|
$
|
15,331
|
|
|
| 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:
|
2016 (remainder of)
|
|
$
|
1,442
|
|
|
2017
|
|
|
1,826
|
|
|
2018
|
|
|
1,685
|
|
|
2019
|
|
|
1,390
|
|
|
2020
|
|
|
1,299
|
|
|
Thereafter
|
|
|
7,203
|
|
|
Total
|
|
$
|
14,845
|
|
|