Annual report pursuant to Section 13 and 15(d)

Intangible Assets

Intangible Assets

12 Months Ended

Dec. 31, 2016

8.	Intangible Assets

Intangible assets consisted of the following:


	December 31, 2016							December 31, 2015
	Gross Cost		Accumulated Amortization			Net Carrying Amount		Gross Cost		Accumulated Amortization			Net Carrying Amount
Customer relationships and product supply agreements	$	35.0	$	(7.9	)	$	27.1	$	28.9	$	(4.5	)	$	24.4
Trademarks/Trade Names		17.6		(3.4	)		14.2		15.0		(2.9	)		12.1
Technology		2.0		(0.6	)		1.4		2.0		(0.3	)		1.7
Non-compete agreement		1.4		(0.7	)		0.7		1.1		(0.4	)		0.7
Customer contracts and backlog		3.3		(3.1	)		0.2		4.8		(4.5	)		0.3
Other		0.6		(0.4	)		0.2		0.7		(0.3	)		0.4

Intangible assets	$	59.9	$	(16.1	)	$	43.8	$	52.5	$	(12.9	)	$	39.6

In connection with the TNT acquisition, we recorded $2.9 million of customer relationships and product supply agreements, $2.5 million of trademarks/tradenames, $0.3 million of non-compete agreements and $0.2 million of customer contracts and backlog. Additionally, during 2016, we entered into channel distribution agreement totaling $3.5 million (included in customer relationships and product supply agreements), which were offset by the write-off of certain intangible assets from previous acquisitions.

Amortization expense related to intangible assets, which was recorded in “Amortization and depreciation” on the Consolidated Statements of Operations, was $5.2 million, $4.0 million and $5.2 million for the years ended December 31, 2016, 2015 and 2014, respectively. Estimated future amortization expense related to intangible assets is $5.5 million for 2017, $5.3 million for 2018, $4.5 million for 2019, $3.9 million for 2020, $3.7 million for 2021, and $20.9 million thereafter