Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.19.2
Intangible Assets
9 Months Ended
Jun. 30, 2019
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 June 30, 2019 and September 30, 2018, and estimated future amortization expense.

  

    June 30, 2019     September 30, 2018  
(in thousands)   Cost     Accumulated Amortization     Net Book Value     Cost     Accumulated Amortization     Net Book Value  
Customer relationships   $ 29,070     $ 9,605     $ 19,465     $ 29,070     $ 7,459     $ 21,611  
Trade name     8,329       3,604       4,725       8,329       2,537       5,792  
Non-Compete agreements     4,331       3,244       1,087       4,331       2,267       2,064  
Total   $ 41,730     $ 16,453     $ 25,277     $ 41,730     $ 12,263     $ 29,467  

 

Estimated Amortization Expense  
Remainder of Fiscal 2019   $ 1,397  
Fiscal 2020     5,038  
Fiscal 2021     4,088  
Fiscal 2022     3,469  
Fiscal 2023     2,879  
Thereafter     8,406  
    $ 25,277  

 

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 and $4.2 million for each three and nine-month periods ended June 30, 2019 and 2018, respectively.