Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net of amortization, totaled $1.2 million and $1.4 million as of December 31, 2015 and 2014, respectively, and consist of intellectual property purchased during the years ended December 31, 2014 and 2013. A portion of these assets, approximating $0.4 million and $0.7 million, which represent software license agreements, were placed into service during the years ended December 31, 2014 and 2015, respectively. Amortization of intangible assets was $0.2 million and $0.05 million for the year ended December 31, 2015 and 2014, respectively. The terms of the some of these license agreements provide for use of the licensed software into perpetuity while others are definite. The Company plans to amortize the cost of the license agreements over the estimated useful life, which can range between three to five years. The Company recorded an impairment charge of $0.1 million during the year ended December 31, 2014 on one of the software license agreements placed into service. The Company did not record any impairment charges related to intangible assets for the years ended December 31, 2015 and 2013. As of December 31, 2015, intangible assets not yet placed into service totaled approximately $0.4 million.

The following table illustrates the estimated future amortization expense of intangible assets as of December 31, 2015 (in thousands):



Year ending December 31,	Estimated Amortization Expense
2016	$	314
2017	280
2018	214
2019	214
2020	117
Thereafter	14
Total	$	1,153