Quarterly report pursuant to Section 13 or 15(d)

Intangibles

v3.7.0.1
Intangibles
6 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]
Note 7 – Intangibles
 
Goodwill was $10.5 million at June 30, 2017 (Successor) and December 31, 2016 (Successor). There has been no change in the carrying amount of the trade name since December 31, 2016 (Successor). 
 
Intangible assets, excluding goodwill, are comprised of the following:  
 
 
 
Successor
 
 
 
Gross
 
 
 
Net intangible
 
 
 
carrying
 
Accumulated
 
assets, excluding
 
(in thousands)
 
amount
 
amortization
 
goodwill
 
June 30, 2017
 
 
 
 
 
 
 
 
 
 
Amortized intangible assets:
 
 
 
 
 
 
 
 
 
 
Backlog – Construction
 
$
4,830
 
$
(3,276)
 
$
1,554
 
Backlog – Service
 
 
880
 
 
(834)
 
 
46
 
Customer Relationships - Service
 
 
4,710
 
 
(952)
 
 
3,758
 
Favorable Leasehold Interests
 
 
530
 
 
(65)
 
 
465
 
Total amortized intangible assets
 
 
10,950
 
 
(5,127)
 
 
5,823
 
Unamortized intangible assets:
 
 
 
 
 
 
 
 
 
 
Trade Name
 
 
9,960
 
 
 
 
9,960
 
Total unamortized intangible assets
 
 
9,960
 
 
 
 
9,960
 
Total amortized and unamortized assets, excluding goodwill
 
$
20,910
 
$
(5,127)
 
$
15,783
 
 
 
 
Successor
 
 
 
Gross
 
 
 
Net intangible
 
 
 
carrying
 
Accumulated
 
assets, excluding
 
(in thousands)
 
amount
 
amortization
 
goodwill
 
December 31, 2016
 
 
 
 
 
 
 
 
 
 
Amortized intangible assets:
 
 
 
 
 
 
 
 
 
 
Backlog – Construction
 
$
4,830
 
$
(2,222)
 
$
2,608
 
Backlog – Service
 
 
880
 
 
(398)
 
 
482
 
Customer Relationships - Service
 
 
4,710
 
 
(452)
 
 
4,258
 
Favorable Leasehold Interests
 
 
530
 
 
(31)
 
 
499
 
Total amortized intangible assets
 
 
10,950
 
 
(3,103)
 
 
7,847
 
Unamortized intangible assets:
 
 
 
 
 
 
 
 
 
 
Trade Name
 
 
9,960
 
 
 
 
9,960
 
Total unamortized intangible assets
 
 
9,960
 
 
 
 
9,960
 
Total amortized and unamortized assets, excluding goodwill
 
$
20,910
 
$
(3,103)
 
$
17,807
 
 
Total amortization expense for these amortizable intangible assets was $2.0 million for the six months ended June 30, 2017 (Successor). There were no intangible assets in the Predecessor period, and accordingly, there was no amortization expense. The Company did not recognize any impairment charges related to definite and indefinite-lived intangible assets during the Successor period for the six months ended June 30, 2017.