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Intangible Assets | 9 Months Ended
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Sep. 30, 2018
Intangible Assets |
8. | Intangible Assets
Intangible assets are amortized over their useful lives using the straight-line method, as applicable, and the amortization expense is recorded within selling, general and administrative expense in the Company’s condensed consolidated statements of comprehensive income. The Company reviews its indefinite-lived intangible assets not subject to amortization to determine if adverse conditions exist or a change in circumstances exists that would indicate an impairment. Intangible assets and their related useful lives are reviewed at least annually to determine if any adverse conditions exist that would indicate the carrying value of these assets may not be recoverable. More frequent impairment assessments are conducted if certain conditions exist, including a change in the competitive landscape, any internal decisions to pursue new or different technology strategies, a loss of a significant customer, or a significant change in the marketplace, including changes in the prices paid for our products or changes in the size of the market for our products. An impairment results if the carrying value of the asset exceeds the estimated fair value of the asset. If the estimate of an intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life. The Company continues to believe that its intangible assets are recoverable at September 30, 2018. Intangible assets consisted of the following at September 30, 2018 (amounts in thousands):
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Weighted Average Useful Life (in years) |
Technology – developed |  | $ | 51,689 |  |  | $ | (5,221 | ) |  |  | 19 |
Patents |  |  | 240 |  |  |  | (240 | ) |  |  | 8 |
Customer relationships |  |  | 101,563 |  |  |  | (14,821 | ) |  |  | 14 |
Trademark – definite lived |  |  | 2,160 |  |  |  | (131 | ) |  |  | 20 |
Trademark – indefinite lived |  |  | 700 |  |  |  | — |  |  |  | — |
Other intangibles |  |  | 1,061 |  |  |  | (466 | ) |  |  | 3 |
Total intangible assets |  | $ | 157,413 |  |  | $ | (20,879 | ) |  |  | 16 |
Intangible assets consisted of the following at December 31, 2017 (amounts in thousands):
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Weighted Average Useful Life (in years) |
Technology – developed |  | $ | 51,801 |  |  | $ | (3,201 | ) |  |  | 19 |
Patents |  |  | 240 |  |  |  | (238 | ) |  |  | 8 |
Customer relationships |  |  | 102,120 |  |  |  | (9,636 | ) |  |  | 14 |
Trademarks – definite lived |  |  | 2,160 |  |  |  | (47 | ) |  |  | 20 |
Trademarks – indefinite lived |  |  | 700 |  |  |  | — |  |  |  | — |
Other intangibles |  |  | 1,063 |  |  |  | (209 | ) |  |  | 3 |
Total intangible assets |  | $ | 158,084 |  |  | $ | (13,331 | ) |  |  | 16 |
Amortization expense for amortized intangible assets was approximately $7,906,000 and $3,476,000 for the nine-month periods ended September 30, 2018 and 2017, respectively. As of September 30, 2018, the Company expects to record amortization expense as follows (amounts in thousands):
Years Ending |  | Amortization Expense |
December 31, 2018 (three months remaining) |  | $ | 2,636 |
December 31, 2019 |  |  | 10,433 |
December 31, 2020 |  |  | 9,854 |
December 31, 2021 |  |  | 9,363 |
December 31, 2022 |  |  | 9,361 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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