Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
6 Months Ended
Jun. 30, 2017
Intangible Assets [Abstract]  
INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

 

At June 30, 2017, customer lists include the intangible assets related to customer relationships acquired through the acquisition of Christian Disposal, Eagle Ridge and the CFS Group. The customer list intangible assets are amortized over their useful life which range from 5 to 20 years. Amortization expense, excluding amortization of landfill assets of approximately $2,059,000 and $136,000, amounted to approximately $1,970,000 and $1,757,000 for the six months ended June 30, 2017 and 2016, respectively.

 

The following tables set forth the intangible assets, both acquired and developed, including accumulated amortization as of June 30, 2017:

 

    June 30, 2017
    Remaining         Accumulated     Net Carrying  
    Useful Life   Cost     Amortization     Value  
Customer lists   9.30 years   $ 25,387,452     $ 10,255,320     $ 15,132,132  
Non-compete agreement   2.70 years     206,000       111,920       94,080  
Trademarks   4.62 years     210,000       15,750       194,250  
Capitalized software   2.92 years     135,020       3,750       131,270  
Website   3.50 years     44,619       8,216       36,403  
        $ 25,983,091     $ 10,394,956     $ 15,588,135