| Intangible Assets |
8. INTANGIBLE ASSETS
The following is a summary of intangible assets as of September 30, 2013 and December 31, 2012:
|
|
Customer
Relationships
|
|
|
Other
Intangible
Assets
|
|
|
Total
|
|
|
Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2013
|
$ |
|
15,910 |
|
|
$ |
|
1,566 |
|
|
$ |
|
17,476 |
|
|
Acquisition of certain assets of Ten-Sixty
|
|
1,650 |
|
|
|
97 |
|
|
|
1,747 |
|
|
Balance, September 30, 2013
|
|
17,560 |
|
|
|
1,663 |
|
|
|
19,223 |
|
|
Useful lives
|
|
10‑20 years
|
|
|
|
3‑5 years
|
|
|
|
|
|
|
Accumulated amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2013
|
|
(4,238
|
)
|
|
|
(875
|
)
|
|
|
(5,113
|
)
|
|
Amortization expense
|
|
(885
|
)
|
|
|
(271
|
)
|
|
|
(1,156
|
)
|
|
Balance, September 30, 2013
|
|
(5,123
|
)
|
|
|
(1,146
|
)
|
|
|
(6,269
|
)
|
|
Net book value
|
$ |
|
12,437 |
|
|
$ |
|
517 |
|
|
$ |
|
12,954 |
|
|
Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2012
|
$ |
|
15,910 |
|
|
$ |
|
1,566 |
|
|
$ |
|
17,476 |
|
|
Balance, December 31, 2012
|
|
15,910 |
|
|
|
1,566 |
|
|
|
17,476 |
|
|
Useful lives
|
|
10‑20 years
|
|
|
|
3‑5 years
|
|
|
|
|
|
|
Accumulated amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2012
|
|
(3,144
|
)
|
|
|
(522
|
)
|
|
|
(3,666
|
)
|
|
Amortization expense
|
|
(1,094
|
)
|
|
|
(353
|
)
|
|
|
(1,447
|
)
|
|
Balance, December 31, 2012
|
|
(4,238
|
)
|
|
|
(875
|
)
|
|
|
(5,113
|
)
|
|
Net book value
|
$ |
|
11,672 |
|
|
$ |
|
691 |
|
|
$ |
|
12,363 |
|
As of September 30, 2013, amortization expense related to the intangible assets was $402 and $1,156 for the three and nine months ended September 30, 2013, respectively, and was $362 and $1,085 for the three and nine months ended September 30, 2012, respectively.
As of September 30, 2013, amortization related to the Company’s finite life intangible assets is scheduled to be expensed over the next five years and thereafter as follows:
|
2013 (remainder of)
|
$ |
|
367 |
|
|
2014
|
|
1,422 |
|
|
2015
|
|
1,291 |
|
|
2016
|
|
1,236 |
|
|
2017
|
|
1,135 |
|
|
Thereafter
|
|
7,503 |
|
|
Total
|
$ |
|
12,954 |
|
|