Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v3.6.0.2
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Goodwill and Intangible Assets

Changes in goodwill for the years ended December 31, 2016 and 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 acquisitions
1,944

 
—

 
104,549

 
106,493

Balance as of December 31, 2015
$
63,113

 
$
30,883

 
$
104,549

 
$
198,545

Increase from acquisitions
77

 
—

 
—

 
77

Balance as of December 31, 2016
$
63,190

 
$
30,883

 
$
104,549

 
$
198,622



The results of our annual goodwill impairment testing in the fourth quarter of 2016 indicated that the fair value of our reporting units exceeded their carrying values.

Intangible assets consist of the value of contract-related assets, technologies and trade names. Amortization expense for the years ended December 31, 2016, 2015 and 2014 was approximately $16.1 million, $15.6 million and $10.0 million, respectively.

Intangible assets were composed of the following (in thousands):
 
Cost
 
Accumulated Amortization
 
Accumulated Impairment Loss
 
Net Intangible Assets
December 31, 2016
 
 
 
 
 
 
 
Contract and customer-related
$
173,094

 
$
(59,799
)
 
$
(1,025
)
 
$
112,270

Acquired technologies
12,400

 
(6,278
)
 
—

 
6,122

Trade names
16,670

 
(8,136
)
 
—

 
8,534

Total
$
202,164

 
$
(74,213
)
 
$
(1,025
)
 
$
126,926

 
 
 
 
 
 
 
 
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
16,730

 
(6,384
)
 
—

 
10,346

Total
$
202,214

 
$
(58,146
)
 
$
(1,025
)
 
$
143,043



Future expected amortization of intangible assets is as follows for the years ending December 31, (in thousands):
 
Amortization
2017
$
16,017

2018
16,017

2019
15,953

2020
15,362

2021
14,998

Thereafter
48,579

Total
$
126,926