Definite-lived Intangible Assets

6 Months Ended

Jun. 30, 2020

Definite-lived Intangible Assets

Definite-lived Intangible Assets

5.    Definite-lived Intangible Assets

Definite-lived Intangible Assets

Identified intangible assets with determinable lives consist primarily of customer relationships, a non-competition agreement and software acquired in the acquisition of Railtronix, as well as patents that were filed for our systems and other intellectual property. Amortization on these assets is calculated on the straight-line method over the estimated useful lives of the assets, which is five to fifteen years. The Company recorded amortization expense of $191 and $194 for the three months ended June 30, 2020 and 2019, respectively and amortization expense of $389 and $389 for the six months ended June 30, 2020 and 2019, respectively.

Identified intangible assets by major classification consist of the following at June 30, 2020 and December 31, 2019:

			Accumulated		Net Book
	Gross		Amortization		Value
As of June 30, 2020:
Customer relationships	$	4,703	$	(1,735)	$	2,968
Software acquired in the acquisition of Railtronix		346		(128)		218
Non-competition agreement		225		(116)		109
Patents and other		114		(37)		77
Total identifiable intangibles	$	5,388	$	(2,016)	$	3,372
As of December 31, 2019:
Customer relationships	$	4,703	$	(1,400)	$	3,303
Software acquired in the acquisition of Railtronix		346		(103)		243
Non-competition agreement		225		(94)		131
Patents and other		114		(30)		84
Total identifiable intangibles	$	5,388	$	(1,627)	$	3,761