Note 4 - Permit and Other Intangible Assets
|12 Months Ended|
Dec. 31, 2015
|Notes to Financial Statements|
|Intangible Assets Disclosure [Text Block]||
PERMIT AND OTHER INTANGIBLE ASSETS
The following table summarizes changes in the carrying amount of permits. No permit exists at our Services Segment.
(1)Amortization for the one definite-lived permit capitalized in 2009. This permit is being amortized over a ten year period in accordance with its estimated useful life. Net carrying value of this permit was approximately $172,000 and $227,000 as of December 31, 2015 and 2014, respectively.
The following table summarizes information relating to the Company’s definite-lived intangible assets:
The intangible assets are amortized on a straight-line basis over their useful lives with the exception of customer relationships which are being amortized using an accelerated method.
The following table summarizes the expected amortization over the next five years for our definite-lived intangible assets (including the one definite-lived permit):
Amortization expense recorded for definite-lived intangible assets for the Company was approximately $471,000 and $638,000, for the years ended December 31, 2015 and 2014, respectively.
As of December 31, 2015 and 2014, the Company has no goodwill. In 2014, the Company recorded an impairment charge of $380,000 in connection with the sale of our SYA subsidiary on July 29, 2014, in accordance with ASC Topic 350 “Intangible – Goodwill and Other” (“ASC 350”).
The impairment charges recorded were non-cash in nature and did not affect our liquidity or cash flows from operating activities. Additionally, the goodwill impairment had no effect on our borrowing availability or covenants under our credit facility agreement.
The entire disclosure for all or part of the information related to intangible assets.
Reference 1: http://www.xbrl.org/2003/role/presentationRef