Goodwill and Intangible Assets, net

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The carrying value of goodwill was $1.1 million as of December 31, 2013. There was no goodwill activity for the year ended December 31, 2014. The following table details the goodwill activity for the years ended December 31, 2016 and 2015:



(in thousands)
December 31, 2014	$	1,137
Acquisition of VNS Corporation	9,287
Acquisition of Robert Bowden, Inc.	44,541
Merger with Stock Building Supply Holdings, Inc.	199,699
December 31, 2015	254,664
VNS measurement period adjustment	142
RBI measurement period adjustment	(124		)
SBS measurement period adjustment	150
December 31, 2016	$	254,832

Intangible assets

Intangible assets represent the value assigned to trademarks, customer relationships and non-compete agreements in connection with acquired companies. The following table provides the gross carrying amount and related accumulated amortization of definite-lived intangible assets.



	Trademarks					Customer Relationships					Non-Compete Agreements
	Gross					Gross					Gross
	Carrying		Accumulated			Carrying		Accumulated			Carrying		Accumulated
(in thousands)	Amount		Amortization			Amount		Amortization			Amount		Amortization			Total
December 31, 2014	$	—	$	—		$	—	$	—		$	—	$	—		$	—
Acquisition of VNS	850		—			10,000		—			—		—			10,850
Acquisition of RBI	—		—			39,900		—			400		—			40,300
Merger with SBS	4,500		—			129,800		—			6,112		—			140,412
Amortization	—		(408		)	—		(2,664		)	—		(554		)	(3,626		)
December 31, 2015	5,350		(408		)	179,700		(2,664		)	6,512		(554		)	187,936
Amortization	—		(2,140		)	—		(12,845		)	—		(5,736		)	(20,721		)
December 31, 2016	$	5,350	$	(2,548	)	$	179,700	$	(15,509	)	$	6,512	$	(6,290	)	$	167,215

Aggregate amortization expense was $20.7 million, $3.6 million and $0.0 million for the years ended December 31, 2016, 2015 and 2014, respectively. Based upon current assumptions, the Company expects that its definite-lived intangible assets will be amortized according to the following schedule:



(in thousands)
2017	$	15,000
2018	13,046
2019	12,957
2020	12,957
2021	12,957
Thereafter	100,298
	$	167,215

- 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.

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