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Intangible Assets
9 Months Ended
Sep. 30, 2013
Intangible Assets  
Intangible Assets

Note 9—Intangible Assets

 

At September 30, 2013 and December 31, 2012, intangible assets totaled $48,002 and $51,978, respectively, net of amortization.  The September 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

 

September 30,

 

December 31,

 

 

 

Period

 

2013

 

2012

 

Tradename

 

3 to 10 years

 

$

21,808

 

$

23,586

 

Non-compete agreements

 

2 to 5 years

 

$

2,991

 

$

4,130

 

Customer relationships

 

5 to 15 years

 

$

23,203

 

$

24,212

 

Backlog

 

0.75 years

 

$

 

$

50

 

Total

 

 

 

$

48,002

 

$

51,978

 

 

Amortization expense of intangible assets was $1,891 and $1,476 for the three months ended September 30, 2013 and 2012, respectively, and amortization expense for the nine months ended September 30, 2013 and 2012 was $5,576 and $4,669, respectively. Estimated future amortization expense for intangible assets is as follows:

 

For the Years Ending
December 31,

 

Estimated
Intangible
Amortization
Expense

 

2013 (remaining three months)

 

$

1,891

 

2014

 

7,454

 

2015

 

6,404

 

2016

 

6,029

 

2017

 

5,909

 

Thereafter

 

20,315

 

 

 

$

48,002