| Summary of Intangible Assets |
The following is a summary of intangible assets as of March 31, 2017 and December 31, 2016:
|
|
|
Customer
Relationships
|
|
|
Other
Intangible
Assets
|
|
|
Total
|
|
|
Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2017
|
|
$
|
22,560
|
|
|
$
|
2,467
|
|
|
$
|
25,027
|
|
|
Balance, March 31, 2017
|
|
|
22,560
|
|
|
|
2,467
|
|
|
|
25,027
|
|
|
Useful lives
|
|
|
10-20 years
|
|
|
|
3-5 years
|
|
|
|
|
|
|
Accumulated amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2017
|
|
|
(9,721
|
)
|
|
|
(1,902
|
)
|
|
|
(11,623
|
)
|
|
Amortization expense
|
|
|
(412
|
)
|
|
|
(45
|
)
|
|
|
(457
|
)
|
|
Balance, March 31, 2017
|
|
|
(10,133
|
)
|
|
|
(1,947
|
)
|
|
|
(12,079
|
)
|
|
Net book value
|
|
$
|
12,427
|
|
|
$
|
520
|
|
|
$
|
12,947
|
|
|
Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2016
|
|
$
|
22,560
|
|
|
$
|
2,467
|
|
|
$
|
25,027
|
|
|
Balance, December 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
|
|
|
(1,659
|
)
|
|
|
(268
|
)
|
|
|
(1,927
|
)
|
|
Balance, December 31, 2016
|
|
|
(9,721
|
)
|
|
|
(1,902
|
)
|
|
|
(11,623
|
)
|
|
Net Book Value
|
|
$
|
12,839
|
|
|
$
|
565
|
|
|
$
|
13,404
|
|
|
| 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:
|
2017 (remainder of)
|
|
$
|
1,369
|
|
|
2018
|
|
|
1,685
|
|
|
2019
|
|
|
1,390
|
|
|
2020
|
|
|
1,299
|
|
|
2021
|
|
|
1,196
|
|
|
Thereafter
|
|
|
6,008
|
|
|
Total
|
|
$
|
12,947
|
|
|