Intangible Assets

3 Months Ended

Mar. 31, 2017

Intangible Assets [Abstract]

Intangible Assets

(8)  Intangible Assets

The Company amortizes intangible assets on a straight line-basis over their estimated useful lives as follows:

Trademarks and tradenames	2-3 years
Customer relationships	8 years

The Company’s intangible assets as of March 31, 2017 and December 31, 2016 were as follows (in thousands):

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
March 31, 2017
Trademarks and tradenames	$	3,028	$	(2,228)	$	800
Customer relationships		9,344		(1,122)		8,222
	$	12,372	$	(3,350)	$	9,022
December 31, 2016
Trademarks and tradenames	$	3,028	$	(1,850)	$	1,178
Customer relationships		9,344		(831)		8,513
	$	12,372	$	(2,681)	$	9,691

Total amortization expense was $0.7 million and $0.1 million for the three months ended March 31, 2017 and 2016, respectively, and was included in administrative expenses in the consolidated statements of income.

As of March 31, 2017, estimated future amortization expenses are as follows (in thousands):

2018	$	1,731
2019		1,404
2020		1,167
2021		1,167
2022		1,167
2023 and thereafter		2,386
	$	9,022