Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.19.2
Intangible Assets, Net
6 Months Ended
Jun. 30, 2019
Intangible Assets Net Excluding Goodwill [Abstract]  
Intangible Assets, Net

8. INTANGIBLE ASSETS, NET

The following is a summary of intangible assets as of June 30, 2019 and December 31, 2018:

 

 

 

Customer
Relationships

 

 

Other
Intangible
Assets

 

 

Total

 

Cost

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2019

  

$

22,560

  

 

$

2,467

  

 

$

25,027

  

Balance, June 30, 2019

  

 

22,560

 

 

 

2,467

 

 

 

25,027

  

Useful lives

  

 

10-20 years

 

 

 

3-5 years

 

 

 

 

 

Accumulated amortization

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2019

  

 

(12,887

)

 

 

(2,247

)

 

 

(15,134

)

Amortization expense

  

 

(615

)

 

 

(80

)

 

 

(695

)

Balance, June 30, 2019

  

 

(13,502

)

 

 

(2,327

)

 

 

(15,829

)

Net book value

  

$

9,058

 

 

$

140

 

 

$

9,198

  

Cost

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2018

  

$

22,560

  

 

$

2,467

  

 

$

25,027

  

Balance, December 31, 2018

  

 

22,560

  

 

 

2,467

  

 

 

25,027

  

Useful lives

  

 

10-20 years

  

 

 

3-5 years

  

 

 

 

 

Accumulated amortization

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2018

  

 

(11,367

)

 

 

(2,082

)

 

 

(13,449

)

Amortization expense

  

 

(1,520

)

 

 

(165

)

 

 

(1,685

)

Balance, December 31, 2018

 

 

(12,887

)

 

 

(2,247

)

 

 

(15,134

)

Net Book Value

  

$

9,673

 

 

$

220

 

 

$

9,893

 

 

Amortization expense related to intangible assets was $347 and $420 for the three months ended June 30, 2019 and 2018, respectively.  Amortization expense related to intangible assets was $695 and $845 for the six months ended June 30, 2019 and 2018, 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:

 

2019 (remainder of)

  

$

695

  

2020

  

 

1,299

  

2021

  

 

1,196

  

2022

  

 

1,142

  

2023

  

 

983

 

Thereafter

  

 

3,883

 

Total

  

$

9,198