Intangible Assets |
At December 31, 2015, the Company had the following intangible
assets subject to amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
|
|
|
|
Gross Carrying Amount
|
|
|
Accumulated Amortization
|
|
|
Net Carrying Amount
|
|
Patents
|
|
$ |
268 |
|
|
$ |
(177 |
) |
|
$ |
91 |
|
Trade names
|
|
|
14,981 |
|
|
|
(2,884 |
) |
|
|
12,097 |
|
Customer relationships
|
|
|
28,901 |
|
|
|
(4,488 |
) |
|
|
24,413 |
|
Customer contracts and backlog
|
|
|
4,822 |
|
|
|
(4,481 |
) |
|
|
341 |
|
Technology
|
|
|
1,953 |
|
|
|
(248 |
) |
|
|
1,705 |
|
Favorable lease
|
|
|
334 |
|
|
|
(140 |
) |
|
|
194 |
|
Non-compete agreements
|
|
|
1,113 |
|
|
|
(369 |
) |
|
|
744 |
|
Product certification and licensing costs
|
|
|
72 |
|
|
|
(62 |
) |
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
52,444 |
|
|
$ |
(12,849 |
) |
|
$ |
39,595 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At December 31, 2014, the Company had the following intangible
assets subject to amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
|
|
|
|
Gross Carrying Amount
|
|
|
Accumulated Amortization
|
|
|
Net Carrying Amount
|
|
Patents
|
|
$ |
268 |
|
|
$ |
(153 |
) |
|
$ |
115 |
|
Trade names
|
|
|
11,358 |
|
|
|
(1,280 |
) |
|
|
10,078 |
|
Customer relationships
|
|
|
24,455 |
|
|
|
(2,942 |
) |
|
|
21,513 |
|
Customer contracts and backlog
|
|
|
4,496 |
|
|
|
(4,038 |
) |
|
|
458 |
|
Technology
|
|
|
1,953 |
|
|
|
(196 |
) |
|
|
1,757 |
|
Favorable lease
|
|
|
334 |
|
|
|
(64 |
) |
|
|
270 |
|
Non-compete agreements
|
|
|
740 |
|
|
|
(151 |
) |
|
|
589 |
|
Product certification and licensing costs
|
|
|
61 |
|
|
|
(57 |
) |
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
43,665 |
|
|
$ |
(8,881 |
) |
|
$ |
34,784 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangibles are amortized using the straight-line method over their
estimated useful lives. Amortization expense during the years ended
December 31, 2015, 2014 and 2013 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
Estimated useful life |
|
2015 |
|
|
2014 |
|
|
2013 |
|
Patents and trade names
|
|
12 to 17 years |
|
$ |
939 |
|
|
$ |
688 |
|
|
$ |
388 |
|
Customer relationships
|
|
10 to 15 years |
|
|
2,094 |
|
|
|
1,694 |
|
|
|
761 |
|
Customer contracts and backlog
|
|
1 to 3 years |
|
|
443 |
|
|
|
2,425 |
|
|
|
1,613 |
|
Technology
|
|
10 years |
|
|
195 |
|
|
|
129 |
|
|
|
67 |
|
Favorable Leases
|
|
10 years |
|
|
77 |
|
|
|
61 |
|
|
|
3 |
|
Non-compete agreement
|
|
6 years |
|
|
215 |
|
|
|
141 |
|
|
|
10 |
|
Product certification and licensing costs
|
|
3 years |
|
|
5 |
|
|
|
11 |
|
|
|
17 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
$ |
3,968 |
|
|
$ |
5,149 |
|
|
$ |
2,859 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization expense for intangible assets for the next 5 years is
estimated as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
2016 |
|
|
2017 |
|
|
2018 |
|
|
2019 |
|
|
2020 |
|
Patents
|
|
$ |
23 |
|
|
$ |
23 |
|
|
$ |
23 |
|
|
$ |
22 |
|
|
$ |
— |
|
Trade names
|
|
|
1,135 |
|
|
|
1,135 |
|
|
|
1,135 |
|
|
|
1,135 |
|
|
|
1,080 |
|
Customer relationships
|
|
|
2,267 |
|
|
|
2,267 |
|
|
|
2,200 |
|
|
|
2,166 |
|
|
|
2,166 |
|
Customer contracts and backlog
|
|
|
246 |
|
|
|
56 |
|
|
|
39 |
|
|
|
— |
|
|
|
— |
|
Technology
|
|
|
195 |
|
|
|
195 |
|
|
|
195 |
|
|
|
195 |
|
|
|
195 |
|
Favorable Leases
|
|
|
43 |
|
|
|
22 |
|
|
|
22 |
|
|
|
22 |
|
|
|
22 |
|
Non-compete agreement
|
|
|
283 |
|
|
|
222 |
|
|
|
171 |
|
|
|
68 |
|
|
|
— |
|
Product certification and licensing costs
|
|
|
4 |
|
|
|
3 |
|
|
|
3 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
4,196 |
|
|
$ |
3,923 |
|
|
$ |
3,788 |
|
|
$ |
3,608 |
|
|
$ |
3,463 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|