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Intangible Assets
 12 Months Ended
Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

NOTE 6 – INTANGIBLE ASSETS:

 

 

 

2017

 

 

2016

 

Customer relationships

 

$

6,543

 

 

$

6,244

 

Developed technology

 

 

4,429

 

 

 

4,248

 

Trade name

 

 

2,696

 

 

 

2,537

 

 

 

 

13,668

 

 

 

13,029

 

Accumulated amortization

 

 

(2,647

)

 

 

(1,428

)

Intangible assets, net

 

$

11,021

 

 

$

11,601

 

 

The following summarizes changes in intangible assets for the year ended December 31:

 

 

 

2017

 

 

2016

 

Balance at the beginning of the year

 

$

11,601

 

 

$

1,193

 

Changes in intangible assets

 

 

0

 

 

 

11,784

 

Amortization of intangible assets

 

 

(1,219

)

 

 

(1,106

)

Other, primarily impact from changes in foreign currency

   exchange rates

 

 

639

 

 

 

(270

)

Balance at the end of the year

 

$

11,021

 

 

$

11,601

 

 

Intangible assets include an indefinite-lived trade name of $2,696 and $2,537 as of December 31, 2017, and 2016, respectively, that is not subject to amortization. Changes during the year ended December 31, 2016, primarily represent intangible assets identified as part of the Åkers acquisition. Identifiable intangible assets are expected to be amortized over a weighted average period of approximately 12 years or $1,248 for 2018, $1,248 for 2019, $1,248 for 2020, $541 for 2021, $400 for 2022 and $3,640 thereafter.