Intangible Assets

9 Months Ended

Sep. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Indefinite-lived Intangible Assets:

Indefinite-lived intangible assets primarily consist of goodwill and use rights. Use rights of $0.4 million are included in other noncurrent assets on our condensed consolidated balance sheets as of September 30, 2013, December 31, 2012 and September 30, 2012.

The following table presents the goodwill balance by reporting segment:



(in thousands)	September 30, 2013		December 31, 2012		September 30, 2012
Construction	$	28,398	$	29,190	$	6,937
Large Project Construction	23,287		24,115		849
Construction Materials	2,114		2,114		2,114
Total goodwill	$	53,799	$	55,419	$	9,900

The change in goodwill and in the gross value of amortized intangible assets during each period is due to the acquisition of Kenny. See Note 18 for further details.

Amortized Intangible Assets:

Following is the breakdown of our amortized intangible assets that are included in other noncurrent assets on our condensed consolidated balance sheets:



September 30, 2013			Accumulated
(in thousands)	Gross Value		Amortization			Net Book Value
Permits	$	29,713	$	(11,711	)	$	18,002
Customer lists	4,398		(2,418		)	1,980
Covenants not to compete	1,588		(1,551		)	37
Acquired backlog	7,900		(5,147		)	2,753
Trade name	4,100		(324		)	3,776
Other	871		(827		)	44
Total amortized intangible assets	$	48,570	$	(21,978	)	$	26,592



December 31, 2012
(in thousands)
Permits	$	29,713	$	(10,869	)	$	18,844
Customer lists	4,698		(2,170		)	2,528
Covenants not to compete	1,588		(1,546		)	42
Acquired backlog	8,400		—			8,400
Trade name	4,100		—			4,100
Other	871		(734		)	137
Total amortized intangible assets	$	49,370	$	(15,319	)	$	34,051



September 30, 2012
(in thousands)
Permits	$	29,713	$	(10,588	)	$	19,125
Customer lists	2,198		(2,113		)	85
Covenants not to compete	1,588		(1,541		)	47
Other	871		(696		)	175
Total amortized intangible assets	$	34,370	$	(14,938	)	$	19,432

Amortization expense related to these intangible assets for the three and nine months ended September 30, 2013 was approximately $2.2 million and $6.7 million, respectively, and approximately $1.2 million and $3.3 million for the three and nine months ended September 30, 2012, respectively. Based on the amortized intangible assets balance at September 30, 2013, amortization expense expected to be recorded in the future is as follows: $2.6 million for the remainder of 2013; $2.2 million in 2014; $2.1 million in 2015; $1.8 million in 2016; $1.7 million in 2017; and $16.2 million thereafter.

- 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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