Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v3.3.1.900
Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
3. Goodwill and Intangible Assets

 

Goodwill and tradenames are not subject to amortization, therefore, as of December 31, 2015 and 2014 the carrying values were $1.4 billion and $0.8 billion, respectively. We revised the classification of goodwill and intangible assets to separately present goodwill and tradenames. Other intangible assets consisting of customer relationships and backlog are presented within other long-term assets. The revision was not deemed material to the Consolidated Balance Sheet.

 

The gross carrying amounts of intangible assets included within other long-term assets, the related accumulated amortization, the net carrying amounts and the weighted-average amortization periods of the Company’s intangible assets are listed in the following tables (in thousands, except amortization period):

 

    December 31, 2015  
    Gross Carrying
Amount
    Accumulated
Amortization
    Net Carrying
Amount
    Weighted-
Average
Amortization
Period (Years)
 
Customer relationship   $ 120,000     $ (15,527 )   $ 104,473       6.0  
Backlog     70,000       (70,000 )           1.0  
Licenses     3,368       (208 )     3,160       5.6  
Total intangible assets subject to amortization   $ 193,368     $ (85,735 )   $ 107,633          
License (Indefinite-lived)   $ 4,427     $     $          

 

    December 31, 2014  
    Gross Carrying
Amount
    Accumulated
Amortization
    Net Carrying
Amount
    Weighted-
Average
Amortization
Period (Years)
 
Customer relationship   $ 120,000     $ (4,556 )   $ 115,444       6.0  
Backlog     70,000       (7,972 )     62,028       1.0  
Total intangible assets subject to amortization   $ 190,000     $ (12,528 )   $ 177,472          
License (Indefinite-lived)   $ 4,427     $     $          

 

The aggregate amortization expense is as follows (in thousands):

 

    Year Ended
December 31,
 
    2015     2014  
Amortization expense   $ 73,207     $ 12,528  

 

The following table sets forth the Company’s estimated aggregate amortization expense for each of the five years below (in thousands): 

 

Year ended December 31,   Amortization
Expense
 
2016   $ 21,659  
2017     31,177  
2018     26,058  
2019     18,489  
2020     9,906