Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill

v3.8.0.1
Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill

NOTE 6. INTANGIBLE ASSETS AND GOODWILL

 

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

 

Identifiable intangible assets consisted of the following at December 31, 2017:

 

    Weighted average
remaining useful
life (months) 		    Gross
Carrying
Amount 		    Accumulated
Amortization 		    Net
Carrying
Amount 		 
Indefinite- Lived Intangible                                
Goodwill     —     $ 35,672     $ —     $ 35,672  
                                 
Definite- Lived Intangibles                                
Trademarks and tradenames     75.7       2,749       272       2,477  
Customer relationships     75.7       22,743       2,247       20,496  
Contracts in progress     9.7       10,632       6,379       4,253  
Non-compete     51.7       548       78       470  
Total Definite Intangible Assets             36,672       8,976       27,696  
Total Intangible Assets           $ 72,344     $ 8,976     $ 63,368  

 

Amortization expense for the years ended December 31, 2017 and 2016 totaled $8,976 and $-0-. For the year ended December 31, 2017, amortization expense of $2,595 was charged to operating expenses and $6,379 was charged to cost of revenues.

 

Expected future amortization expense consists of the following for each of the following fiscal years ended December 31:

 

2018   $ 8,004  
2019     3,751  
2020     3,751  
2021     3,751  
2022     3,676  
Thereafter     4,763  
Total   $ 27,696