Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill

v3.10.0.1
Intangible Assets and Goodwill
 6 Months Ended
Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill
Intangible Assets and Goodwill
The Company had the following definite lived intangible assets recorded (in thousands):
 
 
June 30,
 
December 31,
 
 
2018
 
2017
Customer relationships
 
$
36,725

 
$
35,795

Trade names
 
9,443

 
8,793

Less: accumulated amortization - customer relationships
 
(30,521
)
 
(26,172
)
Less: accumulated amortization - trade names
 
(2,717
)
 
(2,277
)
Intangible assets, net
 
$
12,930

 
$
16,139



Amortization expense for intangible assets was $4.8 million and $4.5 million, respectively, for the six months ended June 30, 2018 and 2017. The original life of customer relationships ranges from 4 to 10 years with a remaining average useful life of 3.9 years. The original life of trade names ranges from 10 to 20 years with a remaining average useful life of 9.1 years.

Aggregated expected amortization expense for the future periods is expected to be as follows (in thousands):
 
 
Amount
Remainder of 2018
 
$
3,969

2019
 
1,293

2020
 
1,293

2021
 
1,288

2022
 
1,266

Thereafter
 
3,821

 
 
$
12,930



Goodwill was $101.5 million and $99.8 million, respectively, at June 30, 2018 and December 31, 2017. Changes in the goodwill for the year ended December 31, 2017 and the six months ended June 30, 2018 are set forth below (in thousands):
Balance, January 1, 2017
 
$
88,727

Additions - 2017 Stingray Acquisition (Note 4)
 
10,193

Additions - Higher Power Acquisition (Note 4)
 
643

Additions - 5 Star Acquisition (Note 4)
 
248

Balance, December 31, 2017
 
99,811

Additions - WTL Acquisition (Note 4)
 
1,567

Additions - RTS Acquisition (Note 4)
 
133

Balance, June 30, 2018
 
$
101,511