Capitalized Software Development Costs

12 Months Ended

Dec. 31, 2017

Capitalized Software Development Costs [Abstract]

Capitalized Software Development Costs

Capitalized Software Development Costs

In accordance with the relevant authoritative accounting literature the Company has capitalized certain software and product related development costs associated with both the Company’s continuing medical education service offerings, and the Company’s development of its property and casualty underwriting insurance data exchange platform servicing the London markets. During the year ended December 31, 2017 and 2016 the Company capitalized $2.8 million and $4.0 million, respectively, of such development costs. As of December 31, 2017 and 2016 a total of $8.5 million and $6.0 million, respectively, of remaining unamortized development costs are reported on the Company’s consolidated balance sheet. During the year ended December 31, 2017 and 2016 the Company recognized $2.2 million and $1.1 million, respectively, of amortization expense with regards to these capitalized software development costs, which is included in costs of services provided in the Company’s consolidated income statement. The capitalized continuing medical education product costs are being amortized using a three-year to five-year straight-line methodology and certain continuing medical education products costs are immediately expensed. The capitalized software development costs for the property and casualty underwriting insurance data exchange platform are being amortized over a period of five years.