Intangible Assets Subject to Amortization |
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization expense |
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Estimated Annual Amortization Expense |
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|