XML 30 R17.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Intangible Assets
12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets INTANGIBLE ASSETS
Amortizing intangible assets consist of the following at December 31:
 
December 31, 2019
 
Cost
 
Accumulated Amortization
 
Net
Raw material supply agreement
$
6,230

 
$
(3,368
)
 
$
2,862

Renewable diesel technology
8,300

 
(3,089
)
 
5,211

Acquired customer relationships
4,747

 
(1,535
)
 
3,212

Other intangible assets
904

 
(171
)
 
733

Total intangible assets
$
20,181

 
$
(8,163
)
 
$
12,018

 
December 31, 2018
 
Cost
 
Accumulated Amortization
 
Net
Raw material supply agreement
$
6,230

 
$
(2,866
)
 
$
3,364

Renewable diesel technology
8,300

 
(2,536
)
 
5,764

Acquired customer relationships
4,747

 
(976
)
 
3,771

Other intangible assets
904

 
(157
)
 
747

Total intangible assets
$
20,181

 
$
(6,535
)
 
$
13,646


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 $1,628, $1,317 and $1,280 for intangible assets was recorded for the years ended December 31, 2019, 2018 and 2017, respectively.
Estimated amortization expense for fiscal years ended December 31 is as follows:
2020
$
1,682

2021
1,688

2022
1,681

2023
1,688

2024
1,695

Thereafter
3,584

Total
$
12,018