Annual report pursuant to Section 13 and 15(d)

Permit and Other Intangible Assets

v3.19.1
Permit and Other Intangible Assets
 12 Months Ended
Dec. 31, 2018
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 amount of permits. No permit exists at our Services and Medical Segments.

 

Permit (amount in thousands)   Treatment  
Balance as of December 31, 2016   $ 8,474  
PCB permit amortized (1)     (55 )
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  

 

(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. See net carrying value of this permit at December 31, 2018 and 2017 in the table below.

 

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

 

          December 31, 2018     December 31, 2017  
Intangibles (amount in thousands)   Useful Lives
(Years) 		    Gross
Carrying
Amount 		    Accumulated
Amortization 		    Net Carrying
Amount 		    Gross Carrying
Amount 		    Accumulated Amortization     Net Carrying
Amount 		 
Patent     1-17     $ 728     $ (336 )   $ 392     $ 657     $ (306 )   $ 351  
Software     3       410       (403 )     7       410       (398 )     12  
Customer relationships     10       3,370       (2,491 )     879       3,370       (2,246 )     1,124  
Permit     10       545       (538 )     7       545       (483 )     62  
Total           $ 5,053     $ (3,768 )   $ 1,285     $ 4,982     $ (3,433 )   $ 1,549  

 

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:

 

      Amount  
Year     (In thousands)  
         
2019     $ 255  
2020       219  
2021       198  
2022       172  
2023       132  

 

Amortization expense recorded for definite-lived intangible assets was approximately $350,000 and $374,000, for the years ended December 31, 2018 and 2017, respectively.