Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.8.0.1
Intangible Assets
12 Months Ended
Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

8. INTANGIBLE ASSETS

The following is a summary of intangible assets as of December 31, 2017 and December 31, 2016:

 

 

  

Customer
Relationships

 

 

Other
Intangible
Assets

 

 

Total

 

Cost

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2017

  

$

22,560

  

 

$

2,467

  

 

$

25,027

  

Balance, December 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

  

 

(1,646

)

 

 

(180

)

 

 

(1,826

)

Balance, December 31, 2017

  

 

(11,367

)

 

 

(2,082

)

 

 

(13,449

)

Net book value

  

$

11,193

  

 

$

385

 

 

$

11,578

  

 

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

  

Amortization expense related to intangible assets was $1,826, $1,927 and $1,640 for the years ended December 31, 2017, 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:

 

2018

  

$

1,685

  

2019

  

 

1,390

  

2020

  

 

1,299

  

2021

  

 

1,196

  

2022

  

 

1,142

 

Thereafter

  

 

4,866

 

Total

  

$

11,578