Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.2.0.727
Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2015
Goodwill and Intangible Assets [Abstract]  
Goodwill and Intangible Assets
(7) Goodwill and Intangible Assets

Changes in goodwill by operating segment for the three and six months ended June 30, 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
   
-
     
-
     
92,332
     
92,332
 
 Balance as of June 30, 2015
 
$
61,169
   
$
30,883
   
$
92,332
   
$
184,384
 

Intangible assets consist of the value of contract-related assets, acquired technologies and trade names. Amortization expense was approximately $4.1 million and $7.7 million for the three- and six-month periods ended June 30, 2015 and approximately $2.6 million and $5.1 million for the three- and six-month periods ended June 30, 2014, respectively.
 
Intangible assets were comprised of the following (in thousands):

   
Cost
   
Accumulated Amortization
   
Accumulated
Impairment Loss
   
Net Intangible Assets
 
June 30, 2015
               
Contract and customer-related
 
$
179,004
   
$
(40,152
)
 
$
(1,025
)
 
$
137,827
 
Acquired technologies
   
12,400
     
(4,587
)
   
-
     
7,813
 
Trade names – amortizable
   
17,600
     
(5,572
)
   
-
     
12,028
 
    Total
 
$
209,004
   
$
(50,311
)
 
$
(1,025
)
 
$
157,668
 
                                 
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