Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
3 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
5. Intangible Assets

The following tables set forth the costs, accumulated amortization and net book value of the Company’s separately identifiable intangible assets as of December 31, 2018 and September 30, 2018, and estimated future amortization expense.

 

    December 31, 2018     September 30,2018  
(in thousands)   Cost     Accumulated Amortization    

Net Book

Value

    Cost     Accumulated Amortization    

Net Book

Value

 
Customer relationships   $ 29,070     $ 8,175     $ 20,895     $ 29,070     $ 7,459     $ 21,611  
Trade name     8,329       2,892       5,437       8,329       2,537       5,792  
Non-Compete agreements     4,331       2,593       1,738       4,331       2,267       2,064  
Total   $ 41,730     $ 13,660     $ 28,070     $ 41,730     $ 12,263     $ 29,467  
                                                 
Estimated Amortization Expense                                                
Remainder of Fiscal 2019   $ 4,190                                          
Fiscal 2020     5,038                                          
Fiscal 2021     4,088                                          
Fiscal 2022     3,469                                          
Fiscal 2023     2,879                                          
Thereafter     8,406                                          
    $ 28,070                                          

 

The trade names are amortized on a straight – line basis over the estimated useful life of between five and ten years. Intangible assets that represent customer relationships are amortized on the basis of estimated future undiscounted cash flows or using the straight – line basis over estimated remaining useful lives of five to ten years. Non-compete agreements are amortized based on a straight-line basis over the term of the respective noncompete agreements, which are typically five years in duration.

 

The intangible assets amortization expense was $1.4 million for the three-month periods ended December 31, 2018 and 2017.