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