XML 55 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Acquired Intangible Assets

The following is a summary of the Company’s acquired intangible assets:

 

 

 

As of  December 31, 2017

 

 

 

Weighted

Average

Amortization

Period (years)

 

 

Gross

Carrying

Amount

 

 

Accumulated

Amortization

 

 

Intangibles, Net

 

Customer relationships

 

 

10

 

 

$

4,830,000

 

 

$

754,082

 

 

$

4,075,918

 

Developed technologies

 

 

9

 

 

 

1,080,000

 

 

 

142,477

 

 

 

937,523

 

Tradename

 

 

3

 

 

 

120,000

 

 

 

26,667

 

 

 

93,333

 

Non-compete agreement

 

 

3

 

 

 

67,000

 

 

 

45,523

 

 

 

21,477

 

Total intangible assets, net

 

 

10

 

 

$

6,097,000

 

 

$

968,749

 

 

$

5,128,251

 

 

 

As of  December 31, 2016

 

 

 

Weighted

Average

Amortization

Period (years)

 

 

Gross

Carrying

Amount

 

 

Accumulated

Amortization

 

 

Intangibles, Net

 

Customer relationships

 

 

10

 

 

$

3,150,000

 

 

$

327,082

 

 

$

2,822,918

 

Developed technologies

 

 

5

 

 

 

280,000

 

 

 

37,091

 

 

 

242,909

 

Non-compete agreement

 

 

3

 

 

 

67,000

 

 

 

23,190

 

 

 

43,810

 

Total intangible assets, net

 

 

10

 

 

$

3,497,000

 

 

$

387,363

 

 

$

3,109,637

 

 

Schedule of Estimated Annual Amortization of Intangible Assets

The estimated annual amortization of intangible assets for the next five years and thereafter is shown in the following table. Actual amortization expense to be reported in future periods could differ from these estimates as a results of acquisitions, divestitures, asset impairments, among other factors.

 

 

 

Estimated Future Amortization

 

2018

 

$

676,529

 

2019

 

 

655,052

 

2020

 

 

627,667

 

2021

 

 

598,420

 

2022

 

 

563,000

 

Thereafter

 

 

2,007,583

 

Total

 

$

5,128,251