| Intangible Assets, Net |
8. INTANGIBLE ASSETS, NET
The following is a summary of intangible assets as of June 30, 2016 and December 31, 2015:
|
|
|
Customer
Relationships
|
|
|
Other
Intangible
Assets
|
|
|
Total
|
|
|
Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2016
|
|
$
|
22,560
|
|
|
$
|
2,467
|
|
|
$
|
25,027
|
|
|
Balance, June 30, 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
|
|
|
(830
|
)
|
|
|
(142
|
)
|
|
|
(972
|
)
|
|
Balance, June 30, 2016
|
|
|
(8,892
|
)
|
|
|
(1,776
|
)
|
|
|
(10,668
|
)
|
|
Net book value
|
|
$
|
13,668
|
|
|
$
|
691
|
|
|
$
|
14,359
|
|
|
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
|
|
Amortization expense related to intangible assets was $486 and $323 for the three months ended June 30, 2016 and 2015, respectively. Amortization expense related to intangible assets was $972 and $646 for the six months ended June 30, 2016 and 2015, 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:
|
2016 (remainder of)
|
|
$
|
956
|
|
|
2017
|
|
|
1,826
|
|
|
2018
|
|
|
1,685
|
|
|
2019
|
|
|
1,390
|
|
|
2020
|
|
|
1,299
|
|
|
Thereafter
|
|
|
7,203
|
|
|
Total
|
|
$
|
14,359
|
|
|