Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

Amortizing intangible assets consist of the following at December 31:



	December 31, 2017
	Cost		Accumulated Amortization			Net		Weighted Average Remaining Life
Raw material supply agreement	$	6,230	$	(2,408	)	$	3,822	8.0 years
Renewable diesel technology	8,300		(1,983		)	6,317		11.5 years
Acquired customer relationships	2,900		(686		)	2,214		7.6 years
Ground lease	200		(141		)	59		3.9 years
In-process research and development	15,956		(1,241		)	14,715		13.8 years
Total intangible assets	$	33,586	$	(6,459	)	$	27,127



	December 31, 2016
	Cost		Accumulated Amortization			Net		Weighted Average Remaining Life
Raw material supply agreement	$	6,230	$	(1,987	)	$	4,243	9.0 years
Renewable diesel technology	8,300		(1,429		)	6,871		12.5 years
Acquired customer relationships	2,900		(396		)	2,504		8.6 years
Ground lease	200		(127		)	73		4.9 years
In-process research and development	15,956		(177		)	15,779		14.8 years
Total intangible assets	$	33,586	$	(4,116	)	$	29,470

The raw material supply agreement acquired is amortized over its 15 year term based on actual usage under the agreement and expires in 2025. The Company determined the estimated amount of raw materials to be purchased over the life of the agreement to calculate a per pound rate of consumption. The rate is then multiplied by the actual usage each period for expense reporting purposes.

Amortization expense of $2,343, $1,471 and $1,112 for intangible assets was recorded for the years ended December 31, 2017, 2016 and 2015, respectively.

Estimated amortization expense for fiscal years ended December 31 is as follows:



2018	$	2,425
2019	2,433
2020	2,440
2021	2,447
2022	2,441
Thereafter	14,941
Total	$	27,127

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details