| Goodwill and Intangible Assets |
Goodwill and Intangible Assets
Changes in goodwill for the nine months ended September 30, 2016 are as follows (in thousands):
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|
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|
|
|
|
Supply Chain Management |
|
IT, Energy and Management Consulting |
|
Aviation |
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Total |
Balance as of December 31, 2015 |
|
$ |
63,113 |
|
|
$ |
30,883 |
|
|
$ |
104,549 |
|
|
$ |
198,545 |
|
Adjustments from the Ultra Seating acquisition |
|
77 |
|
|
— |
|
|
— |
|
|
77 |
|
Balance as of September 30, 2016 |
|
$ |
63,190 |
|
|
$ |
30,883 |
|
|
$ |
104,549 |
|
|
$ |
198,622 |
|
Intangible assets consist of the value of contract-related assets, acquired technologies and trade names. Amortization expense was approximately $4.0 million and $12.1 million for the three and nine months ended September 30, 2016 and approximately $4.0 million and $11.8 million for the three and nine months ended September 30, 2015, respectively.
Intangible assets were comprised of the following (in thousands):
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Cost |
|
Accumulated Amortization |
|
Accumulated
Impairment Loss
|
|
Net Intangible Assets |
September 30, 2016 |
|
|
|
|
|
|
|
|
Contract and customer-related |
|
$ |
173,094 |
|
|
$ |
(56,515 |
) |
|
$ |
(1,025 |
) |
|
$ |
115,554 |
|
Acquired technologies |
|
12,400 |
|
|
(5,996 |
) |
|
— |
|
|
6,404 |
|
Trade names – amortizable |
|
16,670 |
|
|
(7,698 |
) |
|
— |
|
|
8,972 |
|
Total |
|
$ |
202,164 |
|
|
$ |
(70,209 |
) |
|
$ |
(1,025 |
) |
|
$ |
130,930 |
|
|
|
|
|
|
|
|
|
|
December 31, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
Contract and customer-related |
|
$ |
173,084 |
|
|
$ |
(46,611 |
) |
|
$ |
(1,025 |
) |
|
$ |
125,448 |
|
Acquired technologies |
|
12,400 |
|
|
(5,151 |
) |
|
— |
|
|
7,249 |
|
Trade names – amortizable |
|
16,730 |
|
|
(6,384 |
) |
|
— |
|
|
10,346 |
|
Total |
|
$ |
202,214 |
|
|
$ |
(58,146 |
) |
|
$ |
(1,025 |
) |
|
$ |
143,043 |
|
|