Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.20.2
Intangible Assets
9 Months Ended
Jun. 30, 2020
Intangible Assets  
6. 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, 2020 and September 30, 2019 and estimated future amortization expense.

 

 

 

 

June 30, 2020

September 30, 2019

 

 

 

Cost

 

 

Accumulated Amortization

 

 

Net Book Value

 

 

Cost

 

 

Accumulated Amortization

 

 

Net Book Value

 

Customer relationships

 

$ 29,070

 

 

$ 12,472

 

 

$ 16,598

 

 

$ 29,070

 

 

$ 10,321

 

 

$ 18,749

 

Trade names

 

 

8,329

 

 

 

5,024

 

 

 

3,305

 

 

 

8,329

 

 

 

3,958

 

 

 

4,371

 

Non-Compete agreements

 

 

4,331

 

 

 

4,274

 

 

 

57

 

 

 

4,331

 

 

 

3,570

 

 

 

761

 

Total

 

$ 41,730

 

 

$ 21,770

 

 

$ 19,960

 

 

$ 41,730

 

 

$ 17,849

 

 

$ 23,881

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Amortization Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining Fiscal 2020

 

$ 1,117

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2021

 

 

4,088

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2022

 

 

3,469

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2023

 

 

2,879

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2024

 

 

2,879

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thereafter

 

 

5,528

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$ 19,960

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

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 non-compete agreements, which are typically five years in duration.

 

The amortization expense for intangible assets was $1,125 and $3,921, and $1,396 and $4,189 for three and nine-month periods ended June 30, 2020 and 2019, respectively.