Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Intangible Assets and Goodwill

The gross carrying value, accumulated amortization and net values of intangible assets and goodwill as of December 31, 2016 to March 31, 2017, were as follows:

As of March 31, 2017 (in thousands)	Weighted average amortization life in years	Gross carrying amount	Accumulated amortization	Net carrying amount
Amortized intangible assets:
AEC trade names	15	$43	$24	$19
AEC technology	15	228	130	98
Customer relationships	15	49,490	3,306	46,184
Customer contracts	6	20,420	3,412	17,008
Other intangibles	5	1,720	344	1,376
Total amortized intangible assets		$71,901	$7,216	$64,685
Unamortized intangible assets:
MC Goodwill		$65,359	$-	$65,359
AEC Goodwill		95,730	-	95,730
Total unamortized intangible assets:		$161,089	$-	$161,089

As of December 31, 2016 (in thousands)	Weighted average amortization life in years	Gross carrying amount	Accumulated amortization	Net carrying amount
Amortized intangible assets:
AEC trade names	15	$43	$23	$20
AEC technology	15	228	124	104
Customer relationships	15	49,490	2,481	47,009
Customer contracts	6	20,420	2,561	17,859
Other intangibles	5	1,720	258	1,462
Total amortized intangible assets		$71,901	$5,447	$66,454
Unamortized intangible assets:
MC Goodwill		$64,645	$-	$64,645
AEC Goodwill		95,730	-	95,730
Total unamortized intangible assets:		$160,375	$-	$160,375

The changes in intangibles, net and goodwill from December 31, 2016 to March 31, 2017, were as follows:

(in thousands)	December 31, 2016	Amortization		Currency Translation	March 31, 2017
Amortized intangible assets:
AEC trade names	$20	$(1	)	$-	$19
AEC technology	104	(6	)	-	98
Customer relationships	47,009	(825	)	-	46,184
Customer contracts	17,859	(851	)	-	17,008
Other intangibles	1,462	(86	)	-	1,376
Net amortized intangible assets	$66,454	($1,769	)	$-	$64,685
Unamortized intangible assets:
MC Goodwill	$64,645	$-		$714	$65,359
AEC Goodwill	95,730	-		-	95,730
Total unamortized intangible assets:	$160,375	$-		$714	$161,089

Schedule of Estimated Amortization Expense

Estimated amortization expense of intangibles for the years ending December 31, 2017 through 2021, is as follows:

	Annual amortization
Year	(in thousands)
2017	$7,076
2018	7,076
2019	7,076
2020	7,076
2021	6,796