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):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|