Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2017

Goodwill And Intangible Assets Disclosure [Abstract]

Note C — Goodwill and Intangible Assets

The Company has recorded goodwill of $147.0 million as of March 31, 2017. The changes in the carrying amount of goodwill for the three month period ended March 31, 2017 and for the year ended December 31, 2016 are as follows (in thousands):

	March 31,		December 31,
	2017		2016
Balance as of January 1	$	147,019	$	147,019
Goodwill acquired during the period		-		-
Balance at end of period	$	147,019	$	147,019

Intangible assets as of March 31, 2017 and December 31, 2016 consisted of the following (in thousands):

	March 31, 2017
	Amortization Period	Cost		Accumulated Amortization		Net
Trade Name	24 months	$	3,000	$	1,883	$	1,117
Customer Relationships	156 - 180 months		81,000		6,778		74,222
Total		$	84,000	$	8,661	$	75,339

	December 31, 2016
	Amortization Period	Cost		Accumulated Amortization		Net
Trade Name	24 months	$	3,000	$	1,508	$	1,492
Customer Relationships	156 - 180 months		81,000		5,428		75,572
Total		$	84,000	$	6,936	$	77,064

We recorded approximately $1.7 and $2.0 million in straight-line amortization expense of intangible assets for the three months ended March 31, 2017 and 2016, respectively. The Company recorded amortization expense from customer relationships and trade names as a general and administrative expense.

The estimated amortization expense related to amortizable intangible assets for each of the five succeeding fiscal years and thereafter as of March 31, 2017 is as follows (in thousands):

Year Ending March 31,
Remainder of 2017	$	5,167
2018		5,400
2019		5,400
2020		5,400
2021		5,400
Thereafter		48,572
Total	$	75,339

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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