Note 5 - Intangible Assets

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE

5

— INTANGIBLE ASSETS

Intangible assets represent the fair value assigned to definite-lived assets such as trade names and customer relationships as part of the Company's acquisition of Brad Foote completed in

2007

as well as the noncompetition agreements, trade names and customer relationships that were part of the Company's acquisition of Red Wolf Company, LLC completed in

2017.

Intangible assets are amortized on a straight-line basis over their estimated useful lives, with a remaining life range from 

2

 to

7

years.

As of

September 30, 2020

and

December 31, 2019

, the cost basis, accumulated amortization and net book value of intangible assets were as follows:

	September 30, 2020												December 31, 2019
											Remaining												Remaining
											Weighted												Weighted
						Accumulated			Net		Average							Accumulated			Net		Average
	Cost		Accumulated			Impairment			Book		Amortization				Accumulated			Impairment			Book		Amortization
	Basis		Amortization			Charges			Value		Period		Cost		Amortization			Charges			Value		Period
Intangible assets:
Noncompete agreements	$	170	$	(104	)	$	—		$	66		2.3	$	170	$	(83	)	$	—		$	87		3.1
Customer relationships		15,979		(6,903	)		(7,592	)		1,484		5.1		15,979		(6,674	)		(7,592	)		1,713		5.8
Trade names		9,099		(6,280	)		—			2,819		7.0		9,099		(5,980	)		—			3,119		7.8
Intangible assets	$	25,248	$	(13,287	)	$	(7,592	)	$	4,369		5.8	$	25,248	$	(12,737	)	$	(7,592	)	$	4,919		6.5

As of

September 30, 2020

, estimated future amortization expense is as follows:

2020	$	183
2021		733
2022		725
2023		664
2024		661
2025 and thereafter		1,403
Total	$	4,369