Annual report pursuant to Section 13 and 15(d)

GOODWILL AND INTANGIBLE ASSETS, NET

v3.3.1.900
GOODWILL AND INTANGIBLE ASSETS, NET
12 Months Ended
Dec. 31, 2015
GOODWILL AND INTANGIBLE ASSETS, NET [Abstract]  
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