Annual report pursuant to Section 13 and 15(d)

GOODWILL AND INTANGIBLE ASSETS, NET

v3.8.0.1
GOODWILL AND INTANGIBLE ASSETS, NET
12 Months Ended
Dec. 31, 2017
GOODWILL AND INTANGIBLE ASSETS, NET [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET
NOTE 10 – GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

We performed an impairment analysis on the value of Goodwill at December 31, 2017, and 2016, 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, 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
 
 
   
December 31, 2016
 
Intangible assets subject to amortization
(Definite-lived)
 
Gross
   
Accumulated
Amortization
   
Net
 
Customer relationships
 
$
16,852
   
$
(2,527
)
 
$
14,325
 
Non-compete agreements
   
94
     
(43
)
   
51
 
Licenses and permits
   
1,471
     
(285
)
   
1,186
 
Developed technology
   
6,131
     
(1,379
)
   
4,752
 
     
24,548
     
(4,234
)
   
20,314
 
Intangible assets not subject to amortization
(Indefinite-lived)
                       
Emissions Allowance
   
197
     
-
     
197
 
Trade name
   
2,158
     
-
     
2,158
 
Total
 
$
26,903
   
$
(4,234
)
 
$
22,669
 

Amortization expense for intangible assets included in cost of sales for the years ended December 31, 2017, 2016, and 2015, was approximately $1,861,000, $1,880,000, and $1,883,000 respectively.

Based on identified intangible assets that are subject to amortization as of December 31, 2017, we expect future amortization expenses for each period to be as follows (in thousands):

   
Total
   
2018
   
2019
   
2020
   
2021
   
2022
   
Thereafter
 
Customer relationships
 
$
13,202
   
$
1,123
   
$
1,123
   
$
1,123
   
$
1,123
   
$
1,123
   
$
7,587
 
Non-compete agreements
   
32
     
19
     
13
     
-
     
-
     
-
     
-
 
Licenses and permits
   
1,081
     
106
     
106
     
106
     
106
     
86
     
571
 
Developed technology
   
4,138
     
613
     
613
     
613
     
613
     
613
     
1,073
 
Total future amortization expense
 
$
18,453
   
$
1,861
   
$
1,855
   
$
1,842
   
$
1,842
   
$
1,822
   
$
9,231