| Goodwill and Intangible Assets |
(7) Goodwill and Intangible Assets
Changes in goodwill by operating segment for the three months ended March 31, 2015 are as follows (in thousands):
| |
|
Supply Chain Management |
|
|
IT, Energy and Management Consulting |
|
|
Aviation
|
|
|
Total |
|
Balance as of December 31, 2014 |
|
$ |
61,169 |
|
|
$ |
30,883 |
|
|
$ |
- |
|
|
$ |
92,052 |
|
Increase from the Aviation Acquisition |
|
|
-
|
|
|
|
-
|
|
|
$ |
101,720 |
|
|
$ |
101,720 |
|
Balance as of March 31, 2015 |
|
$ |
61,169 |
|
|
$ |
30,883 |
|
|
$ |
101,720 |
|
|
$ |
193,772 |
|
Intangible assets consist of the value of contract-related assets, acquired technologies and trade names. Amortization expense was approximately $3.6 million and $2.5 million for the three-month periods ended March 31, 2015 and 2014, respectively.
Intangible assets were comprised of the following (in thousands):
| |
|
Cost |
|
|
Accumulated Amortization |
|
|
Accumulated
Impairment Loss
|
|
|
Net Intangible Assets |
|
March 31, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
Contract and customer-related |
|
$ |
179,004 |
|
|
$ |
(36,796 |
) |
|
$ |
(1,025 |
) |
|
$ |
141,183 |
|
Acquired technologies |
|
|
12,400 |
|
|
|
(4,306 |
) |
|
|
- |
|
|
|
8,094 |
|
Trade names – amortizable |
|
|
17,600 |
|
|
|
(5,108 |
) |
|
|
- |
|
|
|
12,492 |
|
Total |
|
$ |
209,004 |
|
|
$ |
(46,210 |
) |
|
$ |
(1,025 |
) |
|
$ |
161,769 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contract and customer-related |
|
$ |
93,304 |
|
|
$ |
(33,840 |
) |
|
$ |
(1,025 |
) |
|
$ |
58,439 |
|
Acquired technologies |
|
|
12,400 |
|
|
|
(4,024 |
) |
|
|
- |
|
|
|
8,376 |
|
Trade names – amortizable |
|
|
10,100 |
|
|
|
(4,706 |
) |
|
|
- |
|
|
|
5,394 |
|
Total |
|
$ |
115,804 |
|
|
$ |
(42,570 |
) |
|
$ |
(1,025 |
) |
|
$ |
72,209 |
|
|