| Intangible Assets |
8. INTANGIBLE ASSETS
The following is a summary of intangible assets as of December 31, 2016 and December 31, 2015:
|
|
|
Customer
Relationships
|
|
|
Other
Intangible
Assets
|
|
|
Total
|
|
|
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
|
|
|
Cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2015
|
|
$
|
17,560
|
|
|
$
|
1,663
|
|
|
$
|
19,223
|
|
|
Acquisition of certain assets of Jamison
|
|
|
5,000
|
|
|
|
804
|
|
|
|
5,804
|
|
|
Balance, December 31, 2015
|
|
|
22,560
|
|
|
|
2,467
|
|
|
|
25,027
|
|
|
Useful lives
|
|
|
10-20 years
|
|
|
|
3-5 years
|
|
|
|
|
|
|
Accumulated amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2015
|
|
|
(6,627
|
)
|
|
|
(1,429
|
)
|
|
|
(8,056
|
)
|
|
Amortization expense
|
|
|
(1,435
|
)
|
|
|
(205
|
)
|
|
|
(1,640
|
)
|
|
Balance, December 31, 2015
|
|
|
(8,062
|
)
|
|
|
(1,634
|
)
|
|
|
(9,696
|
)
|
|
Net book value
|
|
$
|
14,498
|
|
|
$
|
833
|
|
|
$
|
15,331
|
|
Amortization expense related to intangible assets was $1,927, $1,640 and $1,422 for the years ended December 31, 2016, 2015 and 2014, 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:
|
2017
|
|
$
|
1,826
|
|
|
2018
|
|
|
1,685
|
|
|
2019
|
|
|
1,390
|
|
|
2020
|
|
|
1,299
|
|
|
2021
|
|
|
1,196
|
|
|
Thereafter
|
|
|
6,008
|
|
|
Total
|
|
$
|
13,404
|
|
|