Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill (Tables)

v3.8.0.1
Intangible Assets and Goodwill (Tables)
9 Months Ended
Sep. 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 September 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     78.7       1,592       100       1,492  
Customer relationships     78.7       19,087       1,204       17,883  
Contracts in progress     12.7       10,352       3,966 [1]     6,386  
Non-compete     54.7       599       54       545  
Total Definite Intangible Assets             31,630       5,324       26,306  
                                 
Total Intangible Assets           $ 78,552     $ 5,324     $ 73,228  

 

[1] Amortization expense for the three and nine months ended September 30, 2017 totaled $3,013 and $5,324. For the three months ended September 30, 2017, $768 was charged to operating expenses and $2,245 was charged to cost of revenues. For the nine months ended September 30, 2017, $1,358 was charged to operating expenses and $3,966 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)   $ 3,015  
2018     7,215  
2019     3,074  
2020     3,231  
2021     2,954  
Thereafter     6,817  
Total   $ 26,306