Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.3.1.900
Intangible Assets
12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets
6. 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