Intangible Assets

6 Months Ended

Jun. 30, 2017

(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 June 30, 2017 and December 31, 2016 were as follows (in thousands):



	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
June 30, 2017
Trademarks and tradenames	$	3,028	$	(2,369)	$	659
Customer relationships		9,344		(1,414)		7,930
	$	12,372	$	(3,783)	$	8,589
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 $0.4 million and $0.2 million for the three months ended June 30, 2017 and 2016, respectively, and $1.1 million and $0.3 million for the six months ended June 30, 2017, respectively, and was included in administrative expenses in the consolidated statements of income.

As of June 30, 2017, estimated future amortization expenses are as follows (in thousands):


2018	$	1,731
2019		1,262
2020		1,167
2021		1,167
2022		1,167
2023 and thereafter		2,095
	$	8,589