Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.10.0.1
Intangible Assets, Net
6 Months Ended
Jun. 30, 2018
Intangible Assets Net Excluding Goodwill [Abstract]  
Intangible Assets, Net

8. INTANGIBLE ASSETS, NET

The following is a summary of intangible assets as of June 30, 2018 and December 31, 2017:

 

 

 

Customer
Relationships

 

 

Other
Intangible
Assets

 

 

Total

 

Cost

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2018

  

$

22,560

  

 

$

2,467

  

 

$

25,027

  

Balance, June 30, 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

  

 

(760

)

 

 

(85

)

 

 

(845

)

Balance, June 30, 2018

  

 

(12,127

)

 

 

(2,167

)

 

 

(14,294

)

Net book value

  

$

10,433

 

 

$

300

 

 

$

10,733

  

Cost

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2017

  

$

22,560

  

 

$

2,467

  

 

$

25,027

  

Balance, December 31, 2017

  

 

22,560

  

 

 

2,467

  

 

 

25,027

  

Useful lives

  

 

10-20 years

  

 

 

3-5 years

  

 

 

 

 

Accumulated amortization

  

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2017

  

 

(9,721

)

 

 

(1,902

)

 

 

(11,623

)

Amortization expense

  

 

(1,646

)

 

 

(180

)

 

 

(1,826

)

Balance, December 31, 2017

 

 

(11,367

)

 

 

(2,082

)

 

 

(13,449

)

Net Book Value

  

$

11,193

 

 

$

385

 

 

$

11,578

 

 

Amortization expense related to intangible assets was $420 and $456 for the three months ended June 30, 2018 and 2017, respectively.  Amortization expense related to intangible assets was $845 and $913 for the six months ended June 30, 2018 and 2017, 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:

 

2018 (remainder of)

  

$

840

  

2019

  

 

1,390

  

2020

  

 

1,299

  

2021

  

 

1,196

  

2022

  

 

1,142

 

Thereafter

  

 

4,866

 

Total

  

$

10,733