XML 99 R16.htm IDEA: XBRL DOCUMENT v3.8.0.1
INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets
INTANGIBLE ASSETS
The following is a summary of changes in intangible assets related to favorable sales contracts acquired in business combinations for the years ended December 31, 2017 and December 31, 2016:
 
December 31,
 
December 31,
Sales Contracts
2017
 
2016
Cost
 
 
 
Balance at beginning of period
$
15,034

 
$
18,657

Sales contracts fulfilled
(4,435
)
 
(3,623
)
Balance, end of period
10,599

 
15,034

Accumulated amortization, beginning of period
9,235

 
9,540

Amortization of sales contracts
3,297

 
3,318

Sales contracts fulfilled
(4,435
)

(3,623
)
Accumulated amortization, end of period
8,097

 
9,235

Net book value
$
2,502

 
$
5,799



The sales contracts when acquired were recorded at their acquisition date fair value, which are the incremental cash flows available to the Company arising from above-market pricing of the contracts. Amortization expense for 2018 will be $2.50 million