Quarterly report pursuant to Section 13 or 15(d)

5. Intangible Assets

v3.7.0.1
5. Intangible Assets
3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
5. Intangible Assets

Intangible assets as of March 31, 2017 and December 31, 2016 are as follows:

 

    March 31, 2017     December 31, 2016  
    Gross Carrying Amount     Accumulated Amortization     Total     Gross Carrying Amount     Accumulated Amortization     Total  
                                     
Trademarks and tradename   $ 1,093,400     $ (544,565 )   $ 548,835     $ 1,093,400     $ (501,982 )   $ 591,418  
Proprietary technology     6,670,000       (4,367,392 )     2,302,608       6,670,000       (4,036,915 )     2,633,085  
Non-compete agreement     12,128,043       (10,391,130 )     1,736,913       12,128,043       (9,891,892 )     2,236,151  
Customer relationships     67,713,181       (9,136,312 )     58,576,869       65,948,181       (7,827,697 )     58,120,484  
Favorable lease intangible     218,000       (192,566 )     25,434       218,000       (181,667 )     36,333  
Total acquired intangibles   $ 87,822,624     $ (24,631,965 )   $ 63,190,659     $ 86,057,624     $ (22,440,153 )   $ 63,617,471  

 

Amortization expense was $2.2 million and $1.4 million for the three months ended March 31, 2017 and 2016, respectively. Estimated future aggregate amortization expense is expected to be as follows:

 

Year   Amortization Expense  
remainder of 2017   $ 8,583,253  
2018     6,559,942  
2019     5,576,211  
2020     5,535,827  
2021     5,361,460