Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net (Tables)

v3.19.3
Intangible Assets, Net (Tables)
9 Months Ended
Sep. 30, 2019
Intangible Assets Net Excluding Goodwill [Abstract]  
Summary of Intangible Assets

The following is a summary of intangible assets as of September 30, 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, September 30, 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

  

 

(1,280

)

 

 

(121

)

 

 

(1,401

)

Balance, September 30, 2019

  

 

(14,167

)

 

 

(2,368

)

 

 

(16,535

)

Net book value

  

$

29,893

 

 

$

99

 

 

$

29,992

  

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:

 

2019 (remainder of)

  

$

706

  

2020

  

 

2,733

  

2021

  

 

2,629

  

2022

  

 

2,575

  

2023

  

 

2,416

 

Thereafter

  

 

18,933

 

Total

  

$

29,992