Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

INTANGIBLE ASSETS AND GOODWILL

The following tables summarizes intangible assets and amortization expense as of and for the period ended June 30, 2019:

	June 30, 2019
	Amortization period (years)	Gross Amount		Accumulated Amortization		Net intangible assets
	(in thousands)
Trade name	indefinite	$	5,000	$	—	$	5,000
Non-compete agreement	2	140		37		103
Customer relationships	10	12,900		870		12,030
Total intangible assets		$	18,040	$	907	$	17,133

Changes in carrying amount of goodwill by reportable segment is as follows:

	Trucking		USAT Logistics
	(in thousands)
Balance at December 31, 2018	$	4,926	$	—
Working capital adjustment	305		—
Balance at June 30, 2019	$	5,231	$	—

The above intangible assets have a weighted average remaining life of 111 months. The expected remaining amortization of these assets for the next five successive years and thereafter is as follows:

	(in thousands)
2019 (remaining)	$	655
2020	1,346
2021	1,288
2022	1,288
2023	1,288
2024	1,288
Thereafter	4,980
Total	$	12,133