Intangible Assets

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

Basic had trade names of $3.4 million as of March 31, 2017 and December 31, 2016, respectively. Trade names have a 15-year life and are tested for impairment annually.

Basic’s intangible assets were as follows (in thousands):

	March 31, 2017		December 31, 2016
Trade names	$	3,410	$	3,410
Other intangible assets	48		48
	$	3,458	$	3,458
Less accumulated amortization	59		—
Intangible assets subject to amortization, net	$	3,399	$	3,458

Amortization expense for the three months ended March 31, 2017 and 2016 was approximately $59,000 and $2.2 million, respectively.