Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill

Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 6. INTANGIBLE ASSETS AND GOODWILL

The fair value of identifiable intangible assets consisted of the following at March 31, 2018:

	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		72.7		2,749		370		2,379
Customer relationships		72.7		22,743		3,059		19,684
Contracts in progress		7		10,632		7,695		2,937
Non-compete		48.7		548		105		443
Total Definite Intangible Assets				36,672		11,229		25,443
Total Intangible Assets			$	72,344	$	11,229	$	61,115

The Company completed its annual goodwill impairment assessment as of March 31, 2018. As a result of the Company’s annual assessment, the Company determined that the fair value of the indefinite-lived intangible asset was substantially in excess of its carrying values and no impairment had occurred. The Company continues to believe that goodwill and the indefinite-lived intangible asset are recoverable; however, significant adverse changes in the projected revenues and cash flows of the Company could result in an impairment of goodwill or the indefinite-lived intangible asset. There can be no assurances that goodwill or the indefinite-lived intangible asset may not be impaired in future periods.

Amortization expense for the three months ended March 31, 2018 and 2017 totaled $2,253 and $-0-. For the three months ended March 31, 2018, amortization expense of $938 was charged to operating expenses and $1,315 was charged to cost of revenues.