Customer Lists and Other Identifiable Intangible Assets, Net

9 Months Ended

Sep. 30, 2018

Customer Lists and Other Identifiable Intangible Assets [Member]

Other Identifiable Intangible Assets Net

9.Customer Lists and Other Identifiable Intangible Assets, Net

Customer lists and other identifiable intangible assets, net, which are amortized on a straight line basis and have an estimated useful life of 12 to 20 years, consisted of the following:

(in thousands)	September 30, 2018			December 31, 2017
Customer lists and other identifiable intangible assets at cost	$	25,288		$	25,288
Less: Accumulated amortization		(8,347	)		(6,968	)
Customer lists and other identifiable intangible assets, net	$	16,941		$	18,320

A reconciliation of the activity for customer lists and other identifiable intangible assets, net for the first three quarters of 2018 and the first three quarters of 2017 is as follows:

	First Three Quarters
(in thousands)	2018			2017
Beginning balance - customer lists and other identifiable intangible assets, net	$	18,320		$	10,427
System Transformation Transactions acquisitions		-			3,800
Additional accumulated amortization		(1,379	)		(965	)
Ending balance - customer lists and other identifiable intangible assets, net	$	16,941		$	13,262