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Intangible Assets
6 Months Ended
Jun. 30, 2013
Intangible Assets  
Intangible Assets

Note 9—Intangible Assets

 

At June 30, 2013 and December 31, 2012, intangible assets totaled $49,893 and $51,978, respectively, net of amortization.  The June 30, 2013 balance includes the effect of the FSSI acquisition (See Note 8).  The table below summarizes the intangible asset categories, amounts and the average amortization periods, which are generally on a straight-line basis, as follows:

 

 

 

Amortization

 

June 30,

 

December 31,

 

 

 

Period

 

2013

 

2012

 

Tradename

 

3 to 10 years

 

$

22,593

 

$

23,586

 

Non-compete agreements

 

2 to 5 years

 

$

3,407

 

$

4,130

 

Customer relationships

 

5 to 15 years

 

$

23,893

 

$

24,212

 

Backlog

 

0.75 years

 

$

 

$

50

 

Total

 

 

 

$

49,893

 

$

51,978

 

 

Amortization expense of intangible assets was $1,891 and $1,447 for the three months ended June 30, 2013 and 2012, respectively, and amortization expense for the six months ended June 30, 2013 and 2012 was $3,685 and $3,193, respectively.  Estimated future amortization expense for intangible assets is as follows:

 

For the Years Ending
December 31,

 

Estimated
Intangible
Amortization
Expense

 

2013 (remaining six months)

 

$

3,655

 

2014

 

7,489

 

2015

 

7,220

 

2016

 

6,274

 

2017

 

5,909

 

Thereafter

 

19,346

 

 

 

$

49,893