InfuSystem Holdings, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Intangible Assets

Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

7.	Intangible Assets

The carrying amount and accumulated amortization of intangible assets as of December 31 are as follows (in thousands):


	2015
	Gross Assets		Accumulated Amortization		Net
Nonamortizable intangible assets
Trade names	$	2,000	$	—	$	2,000
Amortizable intangible assets
Trade names		23		15		8
Physician and customer relationships		32,865		16,946		15,919
Physician and customer relationships - Ciscura		3,393		103		3,290
Non-compete agreements		1,094		930		164
Software		11,942		1,789		10,153


Total nonamortizable and amortizable intangible assets	$	51,317	$	19,783	$	31,534


	2014
	Gross Assets		Accumulated Amortization		Net
Nonamortizable intangible assets
Trade names	$	2,000	$	—	$	2,000
Amortizable intangible assets
Physician and customer relationships		32,865		14,755		18,111
Non-compete agreements		848		778		70
Software		6,299		1,407		4,892


Total nonamortizable and amortizable intangible assets	$	42,012	$	16,940	$	25,073

The weighted average remaining lives of physician and customer relationships, non-compete agreements and software are 9-years, 1-year and 2-years, respectively, as of December 31, 2015.

Amortization expense for intangible assets for the years ended December 31, 2015 and 2014 was $2.8 million and $2.5 million, respectively, which was recorded in operating expenses. Expected annual amortization expense for the next five years for intangible assets recorded as of December 31, 2015 are as follows (in thousands):


	2016		2017		2018		2019		2020		2021 and thereafter
Amortization expense	$	5,104	$	5,310	$	4,933	$	4,207	$	2,584	$	7,396