Intangible Assets |
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
|
|
|
1,877 |
|
|
|
(1,669 |
) |
|
|
208 |
|
Technology
|
|
|
1,953 |
|
|
|
(196 |
) |
|
|
1,757 |
|
Favorable leases
|
|
|
334 |
|
|
|
(64 |
) |
|
|
270 |
|
Non-compete agreements
|
|
|
740 |
|
|
|
(151 |
) |
|
|
589 |
|
Backlog
|
|
|
2,619 |
|
|
|
(2,369 |
) |
|
|
250 |
|
Product certification and licensing costs
|
|
|
61 |
|
|
|
(57 |
) |
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
43,665 |
|
|
$ |
(8,881 |
) |
|
$ |
34,784 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At December 31, 2013, the Company had the following intangible
assets subject to amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
Gross Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net Carrying
Amount |
|
Patents
|
|
$ |
268 |
|
|
$ |
(130 |
) |
|
$ |
138 |
|
Trade names
|
|
|
6,034 |
|
|
|
(615 |
) |
|
|
5,419 |
|
Customer relationships
|
|
|
10,643 |
|
|
|
(1,248 |
) |
|
|
9,395 |
|
Customer contracts
|
|
|
1,877 |
|
|
|
(1,613 |
) |
|
|
264 |
|
Technology
|
|
|
2,020 |
|
|
|
(67 |
) |
|
|
1,953 |
|
Favorable lease
|
|
|
218 |
|
|
|
(3 |
) |
|
|
215 |
|
Non-compete agreements
|
|
|
480 |
|
|
|
(10 |
) |
|
|
470 |
|
Product certification and licensing costs
|
|
|
61 |
|
|
|
(46 |
) |
|
|
15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
21,601 |
|
|
$ |
(3,732 |
) |
|
$ |
17,869 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangibles are amortized using the straight-line method over their
estimated useful lives. Amortization expense during the years ended
December 31, 2014, 2013 and 2012 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
Estimated useful
life |
|
2014 |
|
|
2013 |
|
|
2012 |
|
Patents and trade names
|
|
12 to 17 years |
|
$ |
688 |
|
|
$ |
388 |
|
|
$ |
109 |
|
Customer relationships
|
|
10 to 15 years |
|
|
1,694 |
|
|
|
761 |
|
|
|
116 |
|
Customer contracts
|
|
1 to 3 years |
|
|
56 |
|
|
|
1,613 |
|
|
|
— |
|
Technology
|
|
10 years |
|
|
129 |
|
|
|
67 |
|
|
|
— |
|
Favorable Leases
|
|
10 years |
|
|
61 |
|
|
|
3 |
|
|
|
— |
|
Non-compete agreement
|
|
6 years |
|
|
141 |
|
|
|
10 |
|
|
|
— |
|
Backlog
|
|
1 year |
|
|
2,369 |
|
|
|
— |
|
|
|
— |
|
Product certification and licensing costs
|
|
3 years |
|
|
11 |
|
|
|
17 |
|
|
|
41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
$ |
5,149 |
|
|
$ |
2,859 |
|
|
$ |
266 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
During 2012, as a result of our then-deteriorating business and
significantly reduced market value, the Company performed
impairment tests on long-lived assets as prescribed by Accounting
Standards Codification Section 360 (“ASC 360), and
determined that the carrying amounts of assets in the
Company’s LED replacement lamps and fixtures asset group were
not recoverable. In accordance with ASC 360, we recorded impairment
charges aggregating $1.0 million on intangible assets, $0.4 million
on property and equipment, and $0.02 million on additional
intangible assets included in our corporate business unit.
Amortization expense on intangible assets for the next five years
is estimated as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
2015 |
|
|
2016 |
|
|
2017 |
|
|
2018 |
|
|
2019 |
|
Patents
|
|
$ |
23 |
|
|
$ |
23 |
|
|
$ |
23 |
|
|
$ |
23 |
|
|
$ |
22 |
|
Trade names
|
|
|
815 |
|
|
|
815 |
|
|
|
815 |
|
|
|
815 |
|
|
|
815 |
|
Customer relationships
|
|
|
1,971 |
|
|
|
1,971 |
|
|
|
1,971 |
|
|
|
1,903 |
|
|
|
1,869 |
|
Customer contracts
|
|
|
56 |
|
|
|
56 |
|
|
|
56 |
|
|
|
42 |
|
|
|
— |
|
Technology
|
|
|
195 |
|
|
|
195 |
|
|
|
195 |
|
|
|
195 |
|
|
|
195 |
|
Favorable Leases
|
|
|
74 |
|
|
|
45 |
|
|
|
22 |
|
|
|
22 |
|
|
|
22 |
|
Non-compete agreement
|
|
|
167 |
|
|
|
167 |
|
|
|
105 |
|
|
|
80 |
|
|
|
70 |
|
Backlog
|
|
|
250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product certification and licensing costs
|
|
|
4 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
3,555 |
|
|
$ |
3,272 |
|
|
$ |
3,187 |
|
|
$ |
3,080 |
|
|
$ |
2,993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|