Note 7 - Intangible Assets, Net

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

7 . INTANGIBLE ASSETS, NET

Intangible assets, net of accumulated amortization, consist of the following: 

	As of December 31,
	2018			2019
	(in thousands)
Customer relationships	$	19,214		$	19,214
Deferred charges related to pipeline connection agreements		2,716			2,653
Intangible assets, gross		21,930			21,867
Accumulated amortization of intangible assets		(5,096	)		(7,779	)
Intangible assets, net	$	16,834		$	14,088

Amortization expense related to intangibles for the years ended

December 31, 2018

and

2019

, was

$2.5

 million and

$2.7

 

million

, respectively. The estimated aggregate future amortization expense on amortizable intangible assets currently owned by the Partnership is as follows (in thousands):

For year ending:
December 31, 2020	$	2,746
December 31, 2021		2,746
December 31, 2022		2,746
December 31, 2023		1,321
December 31, 2024		1,321
Thereafter		3,208
Total estimated aggregate amortization expense	$	14,088

Customer relationships include

$7.6

million and

$8.4

million related to the acquisition of asphalt facilities in

March 2018

and

February 2016,

respectively, and

$3.2

million related to the acquisition of a pipeline and crude oil marketing business in

November 2015.

The customer relationships are being amortized over a range of

5

to

20

years.

During the year ended

December 31, 2018, 

the Partnership recognized intangible asset impairment charges of

$0.2

million related to a customer contract asset in crude oil pipeline services business.