Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

In 2015, goodwill increased due to the acquisition of Advantage Industrial Automation, Inc. ("Advantage"). See Note 15, "Acquisition", for further information on the acquisition.

The changes in the carrying amount of goodwill, included in other non-current assets in our consolidated balance sheets, for the year ended December 31, 2015 and 2014 were as follows:



	2015		2014
Beginning Balance	$	6,680	$	6,680
Goodwill Acquired	7,057		—
Ending Balance	$	13,737	$	6,680

As of December 31, 2015, we have completed our annual impairment test and concluded that there is no impairment of our goodwill.

Other Intangible Assets

In 2015, other intangible assets were acquired in the acquisition of Advantage. See Note 15, "Acquisition", for further information on the acquisition.

Other intangible assets, included in other non-current assets in our consolidated balance sheets, consist of the following:



	As of December 31, 2015
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	5,970	$	(393	)	$	5,577
Trade name	2,103		(99		)	2,004
Non-compete agreements	210		(30		)	180
Total	$	8,283	$	(522	)	$	7,761

Customer relationships, trade name, and non-compete agreements have weighted-average useful lives from the date of purchase of 10.8 years, 15.0 years, and 5.0 years, respectively.

Amortization expense for other intangible assets was $522 in 2015.

Estimated future amortization expense related to our intangible assets for the years ending December 31 are as follows:



2016	$	738
2017	738
2018	738
2019	738
2020	708
After 2020	4,101
	$	7,761

We did not incur impairment losses related to our other intangible assets during the year ended December 31, 2015.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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