Customer Lists and Other Identifiable Intangible Assets, Net

3 Months Ended

Apr. 01, 2018

Customer Lists and Other Identifiable Intangible Assets [Member]

Other Identifiable Intangible Assets Net

9.Customer Lists and Other Identifiable Intangible Assets, Net

Customer lists and other identifiable intangible assets, net, which are amortized on a straight line basis and have an estimated useful life of 12 to 20 years, consisted of the following:

(in thousands)	April 1, 2018			December 31, 2017
Customer lists and other identifiable intangible assets at cost	$	25,288		$	25,288
Less: Accumulated amortization		(7,427	)		(6,968	)
Customer lists and other identifiable intangible assets, net	$	17,861		$	18,320

A reconciliation of the activity for customer lists and other identifiable intangible assets, net for the first quarter of 2018 and the first quarter of 2017 is as follows:

	First Quarter
(in thousands)	2018			2017
Beginning balance - customer lists and other identifiable intangible assets, net	$	18,320		$	10,427
System Transformation Transactions acquisitions		-			2,850
Additional accumulated amortization		(459	)		(284	)
Ending balance - customer lists and other identifiable intangible assets, net	$	17,861		$	12,993