Annual report pursuant to Section 13 and 15(d)

GOODWILL AND INTANGIBLE ASSETS, NET

v3.19.1
GOODWILL AND INTANGIBLE ASSETS, NET
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET
GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill
We performed an impairment analysis on the value of Goodwill at December 31, 2018, and 2017, 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, 2018
Intangible assets subject to amortization
(Definite-lived)
Gross

 
Accumulated
Amortization

 
Net

Customer relationships
$
16,852

 
$
(4,775
)
 
$
12,077

Non-compete agreements
94

 
(80
)
 
14

Licenses and permits
1,471

 
(495
)
 
976

Developed technology
6,131

 
(2,606
)
 
3,525

 
24,548


(7,956
)

16,592

Intangible assets not subject to amortization
(Indefinite-lived)
 
 
 
 
 
Emissions Allowance
197

 

 
197

Trade name
2,158

 

 
2,158

Total
$
26,903

 
$
(7,956
)
 
$
18,947

 
December 31, 2017
Intangible assets subject to amortization
(Definite-lived)
Gross

 
Accumulated
Amortization

 
Net

Customer relationships
$
16,852

 
$
(3,651
)
 
$
13,201

Non-compete agreements
94

 
(61
)
 
33

Licenses and permits
1,471

 
(390
)
 
1,081

Developed technology
6,131

 
(1,993
)
 
4,138

 
24,548


(6,095
)

18,453

Intangible assets not subject to amortization
(Indefinite-lived)
 
 
 
 
 
Emissions Allowance
197

 

 
197

Trade name
2,158

 

 
2,158

Total
$
26,903


$
(6,095
)

$
20,808


Amortization expense for intangible assets included in cost of sales for the years ended December 31, 2018, 2017, and 2016, was approximately $1,861,000, $1,861,000, and $1,880,000 respectively.
Based on identified intangible assets that are subject to amortization as of December 31, 2018, we expect future amortization expenses for each period to be as follows (in thousands):
 
Total

 
2019

 
2020

 
2021

 
2022

 
2023

 
Thereafter

Customer relationships
$
12,077

 
$
1,123

 
$
1,123

 
$
1,123

 
$
1,123

 
$
1,123

 
$
6,462

Non-compete agreements
14

 
14

 

 

 

 

 

Licenses and permits
976

 
106

 
106

 
101

 
86

 
86

 
491

Developed technology
3,525

 
613

 
613

 
613

 
613

 
613

 
460

Total future amortization expense
$
16,592


$
1,856


$
1,842


$
1,837


$
1,822


$
1,822


$
7,413