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Goodwill and Intangible Assets, Net | 9 Months Ended
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Sep. 30, 2017
Goodwill and Intangible Assets, Net [Abstract] |
Goodwill and Intangible Assets, Net | 8.GOODWILL AND INTANGIBLE ASSETS, NET The Company elected to early adopt the guidance issued by the FASB “Simplifying the Test for Goodwill Impairment” on January 1, 2017. As discussed in Note 3, the new guidance removes Step 2 of the goodwill impairment test, which required a hypothetical purchase price allocation. As such, the impairment analysis is only one step. In this step, the Company estimates the fair value of each of its reporting units, which consisted of five geographic operating segments and its E&P segment at September 30, 2017, and compares the fair value with the carrying value of the net assets assigned to each reporting unit. If the fair value of a reporting unit is greater than the carrying value of the net assets, including goodwill, assigned to the reporting unit, then no impairment results. If the fair value is less than its carrying value, an impairment charge is recorded for the amount by which the carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. During the year ended December 31, 2016, the Company did not record any impairment charges related to goodwill; however, the results of the Company’s annual impairment testing indicated that the carrying value of its E&P segment exceeded its fair value by more than $77,343, which was the carrying value of goodwill at its E&P segment at December 31, 2016. Upon adopting this accounting guidance in the first quarter of 2017, the Company performed an updated impairment test for its E&P segment. The impairment test involved measuring the recoverability of goodwill by comparing the E&P segment’s carrying amount, including goodwill, to the fair value of the reporting unit. The fair value was estimated using an income approach employing a discounted cash flow (“DCF”) model. The DCF model incorporated projected cash flows over a forecast period based on the remaining estimated lives of the operating locations comprising the E&P segment. This was based on a number of key assumptions, including, but not limited to, a discount rate of 11.7%, annual revenue projections based on E&P waste resulting from projected levels of oil and natural gas exploration and production activity during the forecast period, gross margins based on estimated operating expense requirements during the forecast period and estimated capital expenditures over the forecast period, all of which were classified as Level 3 in the fair value hierarchy. The impairment test showed the carrying value of the E&P segment continued to exceed its fair value by an amount in excess of the carrying amount of goodwill, or $77,343. Therefore, the Company recorded an impairment charge of $77,343, consisting of the carrying amount of goodwill at its E&P segment at January 1, 2017, to Impairments and other operating charges in the Condensed Consolidated Statements of Net Income during the nine months ended September 30, 2017. ﻿ Intangible assets, exclusive of goodwill, consisted of the following at September 30, 2017:
﻿ |  |  |  |  |  |  |  |  |  |  |
﻿ | Gross Carrying Amount |  | Accumulated Amortization |  |  | Accumulated Impairment Loss |  | Net Carrying Amount
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
﻿Long-term franchise agreements and contracts | $ | 482,298 |  | $ | (114,040) |  | $ | - |  | $ | 368,258
﻿Customer lists |  | 400,737 |  |  | (168,290) |  |  | - |  |  | 232,447
﻿Permits and other |  | 318,335 |  |  | (32,301) |  |  | - |  |  | 286,034
﻿ |  | 1,201,370 |  |  | (314,631) |  |  | - |  |  | 886,739
﻿Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
﻿Solid waste collection and transportation permits |  | 158,591 |  |  | - |  |  | - |  |  | 158,591
﻿Material recycling facility permits |  | 42,283 |  |  | - |  |  | - |  |  | 42,283
﻿E&P facility permits |  | 59,855 |  |  | - |  |  | (38,507) |  |  | 21,348
﻿ |  | 260,729 |  |  | - |  |  | (38,507) |  |  | 222,222
﻿Intangible assets, exclusive of goodwill | $ | 1,462,099 |  | $ | (314,631) |  | $ | (38,507) |  | $ | 1,108,961
﻿ |  |  |  |  |  |  |  |  |  |  |
﻿ The weighted-average amortization period of long-term franchise agreements and contracts acquired during the nine months ended September 30, 2017 was 16.9 years. The weighted-average amortization period of customer lists acquired during the nine months ended September 30, 2017 was 10.0 years. The weighted-average amortization period of finite-lived permits and other acquired during the nine months ended September 30, 2017 was 40.0 years. Intangible assets, exclusive of goodwill, consisted of the following at December 31, 2016:
﻿ |  |  |  |  |  |  |  |  |  |  |
﻿ | Gross Carrying Amount |  | Accumulated Amortization |  |  | Accumulated Impairment Loss |  | Net Carrying Amount
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
﻿Long-term franchise agreements and contracts | $ | 428,783 |  | $ | (86,552) |  | $ | - |  | $ | 342,231
﻿Customer lists |  | 371,203 |  |  | (131,525) |  |  | - |  |  | 239,678
﻿Permits and other |  | 290,823 |  |  | (21,966) |  |  | - |  |  | 268,857
﻿ |  | 1,090,809 |  |  | (240,043) |  |  | - |  |  | 850,766
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
﻿Solid waste collection and transportation permits |  | 152,761 |  |  | - |  |  | - |  |  | 152,761
﻿Material recycling facility permits |  | 42,283 |  |  | - |  |  | - |  |  | 42,283
﻿E&P facility permits |  | 59,855 |  |  | - |  |  | (38,507) |  |  | 21,348
﻿ |  | 254,899 |  |  | - |  |  | (38,507) |  |  | 216,392
﻿Intangible assets, exclusive of goodwill | $ | 1,345,708 |  | $ | (240,043) |  | $ | (38,507) |  | $ | 1,067,158
﻿ |  |  |  |  |  |  |  |  |  |  |
﻿ Estimated future amortization expense for the next five years relating to finite-lived intangible assets is as follows:
﻿ |  |  |
﻿For the year ending December 31, 2017 |  | $ | 105,822
﻿For the year ending December 31, 2018 |  | $ | 98,193
﻿For the year ending December 31, 2019 |  | $ | 87,622
﻿For the year ending December 31, 2020 |  | $ | 79,423
﻿For the year ending December 31, 2021 |  | $ | 70,416
﻿

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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