Annual report pursuant to Section 13 and 15(d)

6. Intangible Assets

v3.3.1.900
6. Intangible Assets
12 Months Ended
Dec. 31, 2015
Pro forma financial information  
6. Intangible Assets

All of the Company’s identifiable intangible assets are associated with its ‘Business Services’ segment and as of December 31, 2015 and 2014 are comprised of:

 

    December 31, 2015     December 31, 2014  
    Gross Carrying Amount     Accumulated Amortization     Total     Gross Carrying Amount     Accumulated Amortization     Total  
                                     
Trademarks and tradename   $ 1,093,400     $ (331,651 )   $ 761,749     $ 1,093,400     $ (161,319 )   $ 932,081  
Proprietary technology     5,781,000       (2,756,433 )     3,024,567       5,781,000       (1,600,233 )     4,180,767  
Non-compete agreement     10,703,043       (9,220,255 )     1,482,788       9,852,100       (5,150,228 )     4,701,872  
Customer relationships     44,888,181       (4,412,819 )     40,475,362       24,897,800       (2,403,637 )     22,494,163  
Favorable lease intangible     218,000       (138,067 )     79,933       218,000       (94,467 )     123,533  
Total acquired intangibles   $ 62,683,624     $ (16,859,225 )   $ 45,824,399     $ 41,842,300     $ (9,409,884 )   $ 32,432,416  

 

Aggregate amortization expense for each of the five years subsequent to December 31, 2015 is expected to be as follows:

 

Year   Estimated Annual Amortization Expense  
       
2016   $ 5,982,084  
2017   $ 5,848,934  
2018   $ 5,105,126  
2019   $ 4,212,644  
2020 and thereafter   $ 4,176,952