Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill

v3.5.0.2
Intangible Assets and Goodwill
9 Months Ended
Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets And Goodwill

NOTE 6—INTANGIBLE ASSETS AND GOODWILL

The Company conducted its annual impairment test of goodwill as of June 30, 2016 and determined that there was no impairment. The Company also tests its intangible assets and goodwill between the annual impairment tests if events occur or circumstances change that would more likely than not reduce the fair value of the Company or its assets below their carrying amounts. For intangible assets subject to amortization, the Company performs its impairment test when indicators, such as reductions in demand or significant economic slowdowns, are present. No events have occurred since June 30, 2016 through the date of these consolidated financial statements that would trigger further impairment testing of the Company’s intangible assets and goodwill.

Amortization expenses for the three and nine months ended September 30, 2016 totaled $14,000 and $42,000, respectively, and $14,000 and $49,000, respectively, for the same periods in 2015. Other intangible assets primarily include acquired customer lists and non-compete agreements.

The following table presents details of the Company’s intangible assets, related accumulated amortization, and goodwill (in thousands):

 

 

As of September 30, 2016

 

 

As of December 31, 2015

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

Gross

 

 

Amortization

 

 

Impairment

 

 

Net

 

 

Gross

 

 

Amortization

 

 

Impairment

 

 

Net

 

Patents (4-10 years)

$

1,914

 

 

$

(1,914

)

 

$

 

 

$

 

 

$

1,914

 

 

$

(1,914

)

 

$

 

 

$

 

Trademarks (6 years)

 

69

 

 

 

(69

)

 

 

 

 

 

 

 

 

69

 

 

 

(69

)

 

 

 

 

 

 

Other (4 to 6 years)

 

817

 

 

 

(808

)

 

 

 

 

 

9

 

 

 

817

 

 

 

(766

)

 

 

 

 

 

51

 

Total

$

2,800

 

 

$

(2,791

)

 

$

 

 

$

9

 

 

$

2,800

 

 

$

(2,749

)

 

$

 

 

$

51

 

Goodwill (Indefinite life)

$

2,926

 

 

 

 

 

 

 

 

 

 

$

2,926

 

 

$

2,926

 

 

 

 

 

 

 

 

 

 

$

2,926