Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Note 6—Goodwill and Intangible Assets

During the six months ended June 30, 2015, the change in the carrying amount of goodwill was as follows (in thousands):



Balance at beginning of period	$	20,786
Acquisition of Koko'oha⁽¹⁾	29,315
Balance at end of period	$	50,101

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⁽¹⁾ Please read Note 4—Acquisition for further discussion.

Intangible assets consist of the following (in thousands):



	June 30, 2015			December 31, 2014
Intangible assets:
Supplier relationships	$	3,360		$	3,360
Railcar leases	3,249			3,249
Trade names and trademarks	6,267			4,689
Customer relationships	32,069			—
Total intangible assets	$	44,945		$	11,298
Accumulated amortization:
Supplier relationships	$	(645	)	$	(516	)
Railcar leases	(1,626		)	(1,301		)
Trade name and trademarks	(2,751		)	(1,975		)
Customer relationships	(394		)	—
Total accumulated amortization	$	(5,416	)	$	(3,792	)
Net:
Supplier relationships	$	2,715		$	2,844
Railcar leases	1,623			1,948
Trade name and trademarks	3,516			2,714
Customer relationships	31,675			—
Total intangible assets, net	$	39,529		$	7,506

Amortization expense was approximately $1.0 million and $1.6 million for the three and six months ended June 30, 2015, respectively. Amortization expense was approximately $0.9 million and $1.8 million for the three and six months ended June 30, 2014, respectively. Intangible assets acquired from Mid Pac have an average useful life of 13.6 years. Expected amortization expense for each of the next five years and thereafter is as follows (in thousands):



Year Ended	Amount
2015	$	2,650
2016	4,781
2017	3,632
2018	2,982
2019	2,982
Thereafter	22,502
	$	39,529