Annual report pursuant to Section 13 and 15(d)

Permit and Other Intangible Assets

v3.20.1
Permit and Other Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Permit and Other Intangible Assets

NOTE 5

PERMIT AND OTHER INTANGIBLE ASSETS

 

The following table summarizes changes in the carrying value of permits. No permit exists at our Services and Medical Segments.

 

Permit (amount in thousands)   Treatment  
Balance as of December 31, 2017   $ 8,419  
PCB permit amortized (1)     (55 )
Permit in progress     79  
Balance as of December 31, 2018     8,443  
PCB permit amortized (1)     (7 )
Permit in progress     354  
Balance as of December 31, 2019   $ 8,790  

 

(1) Amortization for the one definite-lived permit capitalized in 2009 that was fully amortized in the first quarter of 2019. This permit was amortized over a ten-year period in accordance with its estimated useful life.

 

The following table summarizes information relating to the Company’s definite-lived intangible assets:

 

    Weighted Average     December 31, 2019     December 31, 2018  
    Amortization     Gross           Net     Gross           Net  
    Period     Carrying     Accumulated     Carrying     Carrying     Accumulated     Carrying  
    (Years)     Amount     Amortization     Amount     Amount     Amortization     Amount  
Intangibles (amount in thousands)                                          
Patent     11     $ 760     $ (358 )   $ 402     $ 728     $ (336 )   $ 392  
Software     3       414       (408 )     6       410       (403 )     7  
Customer relationships     10       3,370       (2,713 )     657       3,370       (2,491 )     879  
Permit     10       545       (545 )      ―       545       (538 )     7  
Total           $ 5,089     $ (4,024 )   $ 1,065     $ 5,053     $ (3,768 )   $ 1,285  

 

The intangible assets noted above 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:

 

    Amount  
Year   (In thousands)  
       
2020     219  
2121     199  
2022     173  
2023     132  
2024     10  

 

Amortization expense recorded for definite-lived intangible assets was approximately $256,000 and $350,000, for the years ended December 31, 2019 and 2018, respectively.