Intangible Assets

The components of identifiable intangible assets as of June 30, 2017 and September 30, 2016 are as follows:



		June 30, 2017							September 30, 2016
	Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(dollars in thousands)
Contract intangibles	10	$	1,500	$	(535	)	$	965	$	1,500	$	(150	)	$	1,350
Brand and technology	3 - 5	4,877		(4,877		)	—		5,749		(5,018		)	731
Covenant not to compete	3 - 5	—		—			—		700		(533		)	167
Patent and trademarks	3 - 10	897		(488		)	409		820		(418		)	402
Total intangible assets		$	7,274	$	(5,900	)	$	1,374	$	8,769	$	(6,119	)	$	2,650

Future expected amortization of intangible assets at June 30, 2017 is as follows:



	Future Amortization
Years ending September 30,	(in thousands)
2017 remaining three months	$	53
2018	189
2019	182
2020	183
2021 and thereafter	767
Total	$	1,374

Intangible assets amortization expense was approximately $0.3 million and $0.4 million for the three months ended June 30, 2017 and 2016, respectively. Intangible assets amortization expense was approximately $0.9 million and $1.1 million for the nine months ended June 30, 2017 and 2016, respectively.

The Company recorded a $0.3 million impairment of a contract intangible associated with IronDirect business, which is included within accumulated amortization above. The Company also concluded that the covenant not to compete intangible asset received in connection with the acquisition of the TruckCenter business, was impaired due to exiting the TruckCenter land-based, live auction and retail business, and recorded a $0.1 million charge, and reduced the remaining unamortized value of this intangible asset to zero during the nine months ended June 30, 2017. This impairment charge is recorded in the Other operating expense line item in the Consolidated Statements of Operations.