Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.8.0.1
Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Classes of Intangible Assets

Intangible assets as of December 31, 2017 and 2016 consisted of the following (in thousands):  

 

 

 

 

 

December 31, 2017

 

 

 

 

 

 

 

Amortization

Period

 

Cost

 

 

Accumulated

Amortization

 

 

Net

 

 

 

 

 

Trade Name

 

24 months

 

$

3,000

 

 

$

3,000

 

 

$

-

 

 

 

 

 

Non-Compete Agreement

 

36 months

 

 

26

 

 

 

4

 

 

 

22

 

 

 

 

 

Customer Relationships

 

156-180 months

 

 

85,068

 

 

 

10,925

 

 

 

74,143

 

 

 

 

 

Total

 

 

 

$

88,094

 

 

$

13,929

 

 

$

74,165

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

Amortization

Period

 

Cost

 

 

Accumulated

Amortization

 

 

Impairment

 

 

Net

 

Trade Name

 

24 months

 

$

3,000

 

 

$

1,508

 

 

$

-

 

 

$

1,492

 

Customer Relationships

 

156-180 months

 

 

82,930

 

 

 

5,796

 

 

 

1,562

 

 

 

75,572

 

Support Vector Machine (SVM) technology

 

108 months

 

 

500

 

 

 

269

 

 

 

231

 

 

 

-

 

Laboratory developed test (LDT) technology

 

164 months

 

 

1,482

 

 

 

524

 

 

 

958

 

 

 

-

 

Flow Cytometry and Cytogenetics technology

 

202 months

 

 

1,000

 

 

 

287

 

 

 

713

 

 

 

-

 

Total

 

 

 

$

88,912

 

 

$

8,384

 

 

$

3,464

 

 

$

77,064

 

 

Amortization Expense of Intangible Assets

The Company recorded amortization expense of intangible assets in the consolidated statements of operations as follows (in thousands):

 

 

For the Years Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Amortization of intangible assets

 

$

6,995

 

 

$

7,272

 

 

$

412

 

 

Estimated Amortization Expense

The estimated amortization expense related to amortizable intangible assets for each of the five succeeding fiscal years and thereafter as of December 31, 2017 is as follows (in thousands):

 

Years Ending December 31,

 

As of December 31,

 

2018

 

$

5,685

 

2019

 

 

5,680

 

2020

 

 

5,671

 

2021

 

 

5,671

 

2022

 

 

5,671

 

Thereafter

 

 

45,787

 

Total

 

$

74,165