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Intangible Assets
 9 Months Ended
Sep. 30, 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 September 30, 2017 and December 31, 2016 were as follows (in thousands):







 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

Gross Carrying Amount

 

Accumulated Amortization

 

Net Carrying Amount

September 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks and tradenames

 

 

 

 

$

 1,786 

 

$

 (1,269)

 

$

 517 

Customer relationships

 

 

 

 

 

 9,344 

 

 

 (1,705)

 

 

 7,639 



 

 

 

 

$

 11,130 

 

$

 (2,974)

 

$

 8,156 

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 for both the three months ended September 30, 2017 and 2016, respectively, and $1.5 million and $0.7 million for the nine months ended September 30, 2017 and 2016, respectively, and was included in administrative expenses in the consolidated statements of income.

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







 

 

 

 

 

 

 

 

 

 

 

 

2018

 

 

 

 

 

 

 

 

 

 

$

 1,637 

2019

 

 

 

 

 

 

 

 

 

 

 

 1,213 

2020

 

 

 

 

 

 

 

 

 

 

 

 1,167 

2021

 

 

 

 

 

 

 

 

 

 

 

 1,167 

2022

 

 

 

 

 

 

 

 

 

 

 

 1,167 

2023 and thereafter

 

 

 

 

 

 

 

 

 

 

 

 1,805 



 

 

 

 

 

 

 

 

 

 

$

 8,156