Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net (Tables)

v3.20.2
Intangible Assets, Net (Tables)
6 Months Ended
Jun. 30, 2020
Intangible Assets Net Excluding Goodwill [Abstract]  
Summary of Intangible Assets

The following is a summary of intangible assets as of June 30, 2020 and December 31, 2019:

 

 

 

Customer
Relationships

 

 

Other
Intangible
Assets

 

 

Total

 

Cost

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2020

  

$

44,060

  

 

$

2,467

  

 

$

46,527

  

Disposal

 

 

 

 

 

(6

)

 

 

(6

)

Balance, June 30, 2020

  

 

44,060

 

 

 

2,461

 

 

 

46,521

  

Useful lives

  

 

10-20 years

 

 

 

3-5 years

 

 

 

 

 

Accumulated amortization

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2020

  

 

(14,833

)

 

 

(2,408

)

 

 

(17,241

)

Amortization expense

  

 

(1,347

)

 

 

(58

)

 

 

(1,405

)

Disposal

 

 

 

 

 

5

 

 

 

5

 

Balance, June 30, 2020

  

 

(16,180

)

 

 

(2,461

)

 

 

(18,641

)

Net book value

  

$

27,880

 

 

$

 

 

$

27,880

  

Cost

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2019

  

$

22,560

  

 

$

2,467

  

 

$

25,027

  

Acquisition of Cortina

 

 

21,500

 

 

 

 

 

 

21,500

 

Balance, December 31, 2019

  

 

44,060

  

 

 

2,467

  

 

 

46,527

  

Useful lives

  

 

10-20 years

  

 

 

3-5 years

  

 

 

 

 

Accumulated amortization

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2019

  

 

(12,887

)

 

 

(2,247

)

 

 

(15,134

)

Amortization expense

  

 

(1,946

)

 

 

(161

)

 

 

(2,107

)

Balance, December 31, 2019

 

 

(14,833

)

 

 

(2,408

)

 

 

(17,241

)

Net Book Value

  

$

29,227

 

 

$

59

 

 

$

29,286

 

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:

 

2020 (remainder of)

  

$

1,327

  

2021

  

 

2,629

  

2022

  

 

2,575

  

2023

  

 

2,416

  

2024

  

 

2,289

 

Thereafter

  

 

16,644

 

Total

  

$

27,880