| Intangible Assets, Net |
8. INTANGIBLE ASSETS, NET
The following is a summary of intangible assets as of September 30, 2016 and December 31, 2015:
|
|
|
Customer
Relationships
|
|
|
Other
Intangible
Assets
|
|
|
Total
|
|
|
Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2016
|
|
$
|
22,560
|
|
|
$
|
2,467
|
|
|
$
|
25,027
|
|
|
Balance, September 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
|
|
|
(1,245
|
)
|
|
|
(214
|
)
|
|
|
(1,459
|
)
|
|
Balance, September 30, 2016
|
|
|
(9,307
|
)
|
|
|
(1,848
|
)
|
|
|
(11,155
|
)
|
|
Net book value
|
|
$
|
13,253
|
|
|
$
|
619
|
|
|
$
|
13,872
|
|
|
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 $488 for the three months ended September 30, 2016 and 2015, respectively. Amortization expense related to intangible assets was $1,459 and $1,134 for the nine months ended September 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)
|
|
$
|
469
|
|
|
2017
|
|
|
1,826
|
|
|
2018
|
|
|
1,685
|
|
|
2019
|
|
|
1,390
|
|
|
2020
|
|
|
1,299
|
|
|
Thereafter
|
|
|
7,203
|
|
|
Total
|
|
$
|
13,872
|
|
|