XML 24 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2018
INTANGIBLE ASSETS [Abstract]  
INTANGIBLE ASSETS
NOTE 6 – INTANGIBLE ASSETS

The Company had goodwill in the amount of $441,554 and $441,361 as of June 30, 2018 and December 31, 2017, respectively, subject to the provisions of ASC 350, “Intangibles-Goodwill and Other.”

Identifiable intangible assets with finite lives at June 30, 2018 and December 31, 2017 are summarized as follows:

  
Amortization
Period
(in years)
  
Gross
Carrying
Amount at
6/30/18
  
Accumulated
Amortization
at 6/30/18
  
Gross
Carrying
Amount at
12/31/17
  
Accumulated
Amortization
 at 12/31/17
 
Customer relationships & lists
  
10
  
$
190,032
  
$
114,007
  
$
190,061
  
$
105,573
 
Trademarks & trade names
  
5-17
   
40,630
   
14,894
   
40,630
   
12,895
 
Developed technology
  
5
   
13,338
   
7,270
   
13,338
   
5,936
 
Other
  
3-18
   
13,749
   
5,705
   
13,466
   
5,018
 
      
$
257,749
  
$
141,876
  
$
257,495
  
$
129,422
 

Amortization of identifiable intangible assets was approximately $12,472 for the six months ended June 30, 2018. Assuming no change in the gross carrying value of identifiable intangible assets, estimated amortization expense is $12,282 for the remainder of 2018, $22,652 for 2019, $20,618 for 2020, $17,411 for 2021, $15,843 for 2022 and $14,522 for 2023. At June 30, 2018, there were no identifiable intangible assets with indefinite useful lives as defined by ASC 350. Identifiable intangible assets are reflected in “Intangible assets with finite lives, net” in the Company’s condensed consolidated balance sheets. There were no changes to the useful lives of intangible assets subject to amortization during the six months ended June 30, 2018.