Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS, NET

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GOODWILL AND INTANGIBLE ASSETS, NET
3 Months Ended
Mar. 31, 2016
GOODWILL AND INTANGIBLE ASSETS, NET [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET
6. GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill and intangible assets were recorded in relation to the acquisition of TC on October 1, 2014.
 
Intangible Assets

The following tables summarize the gross carrying amounts and accumulated amortization of intangible assets by major class (in thousands):

   
March 31, 2016
 
Intangible assets subject to amortization
(Definite-lived)
 
Gross
   
Accumulated
Amortization
   
Net
 
Customer relationships
  $ 16,852     $ (1,685 )   $ 15,167  
Non-compete agreements
    94       (29 )     65  
Licenses and permits
    1,471       (191 )     1,280  
Developed technology
    6,131       (919 )     5,212  
      24,548       (2,824 )     21,724  
Intangible assets not subject to amortization
(Indefinite-lived)
                       
Emissions Allowance
    197       -       197  
Trade name
    2,158       -       2,158  
Total
  $ 26,903     $ (2,824 )   $ 24,079  

   
December 31, 2015
 
Intangible assets subject to amortization
(Definite-lived)
 
Gross
   
Accumulated
Amortization
   
Net
 
Customer relationships
  $ 16,852     $ (1,404 )   $ 15,448  
Non-compete agreements
    94       (24 )     70  
Licenses and permits
    1,471       (160 )     1,311  
Developed technology
    6,131       (766 )     5,365  
      24,548       (2,354 )     22,194  
Intangible assets not subject to amortization
(Indefinite-lived)
                       
Emissions Allowance
    197       -       197  
Trade name
    2,158       -       2,158  
Total
  $ 26,903     $ (2,354 )   $ 24,549  

Amortization expense for intangible assets included in cost of sales for the three months ended March 31, 2016, and 2015 was approximately $470,000 and $471,000, respectively.

Based on identified intangible assets that are subject to amortization as of March 31, 2016, we expect future amortization expenses for each period to be as follows (in thousands):

   
Remainder of
2016
   
2017
   
2018
   
2019
   
2020
   
Thereafter
 
Customer relationships
  $ 842     $ 1,123     $ 1,123     $ 1,123     $ 1,123     $ 9,833  
Non-compete agreements
    14       19       19       13       -       -  
Licenses and permits
    97       106       105       106       106       760  
Developed technology
    460       613       613       613       613       2,300  
Total future amortization expense
  $ 1,413     $ 1,861     $ 1,860       1,855     $ 1,842     $ 12,893