GOODWILL AND INTANGIBLE ASSETS, NET |
NOTE 9 – GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill
The following table summarizes changes in the carrying amount of goodwill for the year ended December 31, 2015 (in thousands):
|
|
Balance as of
December 31, 2014
|
|
|
Adjustment |
|
|
Balance as of
December 31, 2015
|
|
TC |
|
$ |
21, 750 |
|
|
$ |
48 |
|
|
$ |
21,798 |
|
We performed an impairment analysis on the value of Goodwill at December 31, 2015, and determined that no impairment existed.
Intangible Assets
The following table summarizes the gross carrying amounts and accumulated amortization of intangible assets by major class (in thousands):
|
|
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 |
|
|
|
December 31, 2014 |
|
Intangible assets subject to amortization
(Definite-lived)
|
|
Gross |
|
|
Accumulated
Amortization
|
|
|
Net |
|
Customer relationships |
|
$ |
16,852 |
|
|
$ |
(281 |
) |
|
$ |
16,571 |
|
Non-compete agreements |
|
|
94 |
|
|
|
(5 |
) |
|
|
89 |
|
Licenses and permits |
|
|
1,471 |
|
|
|
(32 |
) |
|
|
1,439 |
|
Developed technology |
|
|
6,131 |
|
|
|
(153 |
) |
|
|
5,978 |
|
|
|
|
24,548 |
|
|
|
(471 |
) |
|
|
24,077 |
|
Intangible assets not subject to amortization
(Indefinite-lived)
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade name |
|
|
2,158 |
|
|
|
- |
|
|
|
2,158 |
|
Total |
|
$ |
26,706 |
|
|
$ |
(471 |
) |
|
$ |
26,235 |
|
Estimated amortization expense for the succeeding five fiscal years is as follows (in thousands):
2016 |
|
$ |
1,874 |
|
2017 |
|
|
1,861 |
|
2018 |
|
|
1,860 |
|
2019 |
|
|
1,853 |
|
2020 |
|
|
1,842 |
|
Total |
|
$ |
9,290 |
|
|