| Summary of Intangible Assets |
The following is a summary of intangible assets as of December 31, 2021 and December 31, 2020:
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Customer
Relationships |
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Other
Intangible
Assets |
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Total |
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Cost |
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Balance, January 1, 2021 |
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$ |
44,060 |
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|
$ |
2,461 |
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|
$ |
46,521 |
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Balance, December 31, 2021 |
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44,060 |
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|
2,461 |
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|
46,521 |
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Useful lives |
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10-20 years |
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3-5 years |
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Accumulated amortization |
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Balance, January 1, 2021 |
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|
(17,507 |
) |
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|
(2,461 |
) |
|
|
(19,968 |
) |
Amortization expense |
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|
(2,629 |
) |
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|
— |
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|
|
(2,629 |
) |
Balance, December 31, 2021 |
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|
(20,136 |
) |
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(2,461 |
) |
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(22,597 |
) |
Net book value |
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$ |
23,924 |
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|
$ |
— |
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|
$ |
23,924 |
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Cost
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Balance, January 1, 2020 |
|
$ |
44,060 |
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|
$ |
2,467 |
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$ |
46,527 |
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Disposal |
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— |
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(6 |
) |
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(6 |
) |
Balance, December 31, 2020 |
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|
44,060 |
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|
|
2,461 |
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|
|
46,521 |
|
Useful lives |
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10-20 years |
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|
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3-5 years |
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|
|
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Accumulated amortization |
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|
|
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Balance, January 1, 2020 |
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|
(14,833 |
) |
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|
(2,408 |
) |
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|
(17,241 |
) |
Amortization expense |
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(2,674 |
) |
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|
(59 |
) |
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(2,733 |
) |
Disposal |
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— |
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6 |
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|
6 |
|
Balance, December 31, 2020 |
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|
(17,507 |
) |
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|
(2,461 |
) |
|
|
(19,968 |
) |
Net book value |
|
$ |
26,553 |
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|
$ |
— |
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|
$ |
26,553 |
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| 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:
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2022 |
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$ |
2,575 |
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2023 |
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2,416 |
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2024 |
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2,289 |
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2025 |
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|
2,193 |
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2026 |
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|
1,832 |
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Thereafter |
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12,619 |
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Total |
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$ |
23,924 |
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