Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill (Tables)

v3.7.0.1
Intangible Assets and Goodwill (Tables)
 6 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets Acquired in Acquisition

The fair value of identifiable intangible assets acquired in the acquisition of Benchmark consist of the following:

 

Contracts in progress   $ 10,352  
Trademarks and tradenames     1,592  
Customer relationships     19,087  
Non-compete     599  
Total identifiable intangible assets     31,630  
         
Goodwill     46,922  
Total Intangible Assets   $ 78,552  

Schedule of Intangible Assets

Identifiable intangible assets consisted of the following at June 30, 2017:

 

    Weighted average remaining useful life (Months)     Gross Carrying Amount       Accumulated Amortization     Net Carrying Amount  
Indefinite- Lived Intangible                                
Goodwill     -     $ 46,922     $ -     $ 46,922  
                                 
Definite- Lived Intangibles                                
Trademarks and tradenames       81.7       1,592       44       1,548  
Customer relationships     81.7       19,087       523       18,564  
Contracts in progress     15.7       10,352       1,720    [1]   8,632  
Non-compete     57.7       599       23       576  
Total Definite Intangible Assets             31,630       2,310       29,320  
                                 
Total Intangible Assets           $ 78,552     $ 2,310     $ 76,242  

 

[1] Amortization expense for the three and six months ended June 30, 2017 totaled $2,310, of which $589 was charged to operating expenses and $1,720 was charged to cost of revenues.
Schedule of Future Amortization Expenses

Future projected annual amortization consists of the following for each of the following fiscal years ended December 31:

 

2017 (Remaining)   $ 6,027  
2018     7,215  
2019     3,074  
2020     3,231  
2021     2,954  
Thereafter     6,819  
Total   $ 29,320