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Intangible Assets
 6 Months Ended
Jun. 30, 2019
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

5-8 years



The Company’s intangible assets as of June 30, 2019 and December 31, 2018 were as follows (in thousands):









 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

Gross Carrying Amount

 

Accumulated Amortization

 

Net Carrying Amount

June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks and tradenames

 

 

 

 

$

 1,786 

 

$

 (1,786)

 

$

 -

Customer relationships

 

 

 

 

 

 9,344 

 

 

 (4,416)

 

 

 4,928 



 

 

 

 

$

 11,130 

 

$

 (6,202)

 

$

 4,928 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks and tradenames

 

 

 

 

$

 1,786 

 

$

 (1,786)

 

$

 -

Customer relationships

 

 

 

 

 

 9,344 

 

 

 (3,611)

 

 

 5,733 



 

 

 

 

$

 11,130 

 

$

 (5,397)

 

$

 5,733 



Amortization expense was $0.4 million and $0.5 million for the three months ended June 30, 2019 and 2018, respectively, and $0.8 million and $1.1 million for the six months ended June 30, 2019 and 2018, respectively, and was included in administrative expenses in the consolidated statements of income.

As of June 30, 2019, estimated future amortization expenses are as follows (in thousands):









 

 

 

 

 

 

 

 

 

 

 

 

2020

 

 

 

 

 

 

 

 

 

 

$

 1,609 

2021

 

 

 

 

 

 

 

 

 

 

 

 1,609 

2022

 

 

 

 

 

 

 

 

 

 

 

 948 

2023

 

 

 

 

 

 

 

 

 

 

 

 474 

2024

 

 

 

 

 

 

 

 

 

 

 

 288 



 

 

 

 

 

 

 

 

 

 

$

 4,928