Intangible Assets

3 Months Ended

Mar. 31, 2018

Intangible Assets [Abstract]

Intangible Assets

(6)  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	5-8 years

The Company’s intangible assets as of March 31, 2018 and December 31, 2017 were as follows (in thousands):

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
March 31, 2018
Trademarks and tradenames	$	1,786	$	(1,552)	$	234
Customer relationships		9,344		(2,399)		6,945
	$	11,130	$	(3,951)	$	7,179
December 31, 2017
Trademarks and tradenames	$	1,786	$	(1,411)	$	375
Customer relationships		9,344		(1,996)		7,348
	$	11,130	$	(3,407)	$	7,723

Amortization expense recorded for the three months ended March 31, 2018 and 2017 was $0.5 million and $0.7 million, respectively, and was included in administrative expenses in the consolidated statements of income.

As of March 31, 2018, estimated future amortization expenses are as follows (in thousands):

2019	$	1,843
2020		1,609
2021		1,609
2022		1,234
2023		474
2024 and thereafter		410
	$	7,179