Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.19.3.a.u2
Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2019
Intangible Assets Net Excluding Goodwill [Abstract]  
Summary of Intangible Assets

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

 

 

  

Customer
Relationships

 

 

Other
Intangible
Assets

 

 

Total

 

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

  

 

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

  

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

  

$

2,733

  

2021

  

 

2,629

  

2022

  

 

2,575

  

2023

  

 

2,416

  

2024

  

 

2,289

 

Thereafter

  

 

16,644

 

Total

  

$

29,286