Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.3.0.814
Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2015
Goodwill and Intangible Assets [Abstract]  
Goodwill and Intangible Assets
(7) Goodwill and Intangible Assets

Changes in goodwill by operating segment for the nine months ended September 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 September 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 $11.8 million for the three and nine months ended September 30, 2015 and approximately $2.5 million and $7.6 million for the three and nine months ended September 30, 2014, respectively.
 
Intangible assets were comprised of the following (in thousands):

   
Cost
    
Accumulated Amortization
    
Accumulated
Impairment Loss
    
Net Intangible Assets
  
September 30, 2015
                
Contract and customer-related
  
$
179,004
    
$
(43,435
)
  
$
(1,025
)
  
$
134,544
  
Acquired technologies
    
12,400
      
(4,869
)
    
-
      
7,531
  
Trade names – amortizable
    
17,600
      
(6,035
)
    
-
      
11,565
  
    Total
  
$
209,004
    
$
(54,339
)
  
$
(1,025
)
  
$
153,640
  
                                 
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