Quarterly report pursuant to Section 13 or 15(d)

Intangibles

v3.8.0.1
Intangibles
9 Months Ended
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]
Note 7 – Intangibles
 
Goodwill was $10.5 million at September 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
 
(in thousands)
 
Gross
carrying
amount
 
Accumulated
amortization
 
Net intangible
assets, excluding
goodwill
 
September 30, 2017
 
 
 
 
 
 
 
 
 
 
Amortized intangible assets:
 
 
 
 
 
 
 
 
 
 
Backlog – Construction
 
$
4,830
 
$
(3,811)
 
$
1,019
 
Backlog – Service
 
 
880
 
 
(880)
 
 
-
 
Customer Relationships - Service
 
 
4,710
 
 
(1,161)
 
 
3,549
 
Favorable Leasehold Interests
 
 
530
 
 
(82)
 
 
448
 
Total amortized intangible assets
 
 
10,950
 
 
(5,934)
 
 
5,016
 
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
 
$
(5,934)
 
$
14,976
 
  
 
 
Successor
 
(in thousands)
 
Gross
carrying
amount
 
Accumulated
amortization
 
Net intangible
assets, excluding
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 $2.8 million for the nine months ended September 30, 2017 (Successor) and $1.5 million for the period July 20, 2016 through September 30, 2016 (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 nine months ended September 30, 2017 (Successor) or for the period July 20, 2016 through September 30, 2016 (Successor).