Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
9 Months Ended
Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

4. Intangible Assets

 

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

 

          September 30, 2018     December 31, 2017  
    Useful     Gross           Net     Gross           Net  
    Lives     Carrying     Accumulated     Carrying     Carrying     Accumulated     Carrying  
    (Years)     Amount     Amortization     Amount     Amount     Amortization     Amount  
Intangibles (amount in thousands)                                          
Patent     1-17     $ 710     $ (330 )   $ 380     $ 657     $ (306 )   $ 351  
Software     3       410       (403 )     7       410       (398 )     12  
Customer relationships     12       3,370       (2,430 )     940       3,370       (2,246 )     1,124  
Permit     10       545       (523 )     22       545       (483 )     62  
Total           $ 5,035     $ (3,686 )   $ 1,349     $ 4,982     $ (3,433 )   $ 1,549  

 

The intangible assets noted above are amortized on a straight-line basis over their estimated useful lives with the exception of customer relationships which are being amortized using an accelerated method. The Company has only one definite-lived permit that is subject to amortization.

 

The following table summarizes the expected amortization over the next five years for our definite-lived intangible assets (including the one definite-lived permit):

 

    Amount  
Year   (In thousands)  
       
2018 (remaining)   $ 84  
2019     256  
2020     220  
2121     199  
2022     173  

 

Amortization expense relating to the definite-lived intangible assets as discussed above was $84,000 and $253,000 for the three and nine months ended September 30, 2018, respectively, and $93,000 and $281,000 for the three and nine months ended September 30, 2017, respectively.