Goodwill and Intangible assets
9 Months Ended
Sep. 30, 2014
Intangible Assets  
Goodwill and Intangible Assets

10. Goodwill and Intangible Assets

 

Goodwill

 

Changes in the carrying amount of goodwill consisted of the following (in thousands):

 

 

 

Amount

 

Balance at December 31, 2013

 

$

—

 

Current period acquisitions

 

99 

 

Balance at September 30, 2014

 

$

99 

 

 

For a discussion of the significant changes in goodwill, see Note 9. The Company’s goodwill is not deductible for income tax purposes.

 

Intangible assets

 

The Company’s intangible assets and related accumulated amortization consisted of the following as of December 31, 2013 and September 30, 2014 (in thousands):

 

 

 

December 31, 2013

 

 

 

Gross Carrying
Amount

 

Accumulated
Amortization

 

Net

 

Developed technology

 

$

1,647

 

$

(742

)

$

905

 

Non-competition agreements

 

31

 

(8

)

23

 

Total intangible assets

 

$

1,678

 

$

(750

)

$

928

 

 

 

 

 

 

 

September 30, 2014

 

 

 

Gross Carrying
Amount

 

Accumulated
Amortization

 

Net

 

Developed technology

 

$

2,597

 

$

(1,060

)

$

1,537

 

Non-competition agreements

 

53

 

(20

)

33

 

Total intangible assets

 

$

2,650

 

$

(1,080

)

$

1,570

 

 

For a discussion of the significant changes in intangible assets, see Note 9. The weighted average amortization period is 4.4 years for developed technology, 2.0 years for non-competition agreements, and 4.3 years in total.

 

The Company recorded amortization expense during the respective periods for these intangible assets as follows: (in thousands):

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30,

 

September 30,

 

 

 

2013

 

2014

 

2013

 

2014

 

Amortization of intangible assets

 

$

83 

 

$

134 

 

$

218 

 

$

330 

 

 

Amortization of finite lived intangible assets as of September 30, 2014 is as follows for the next four years (in thousands):

 

 

 

Amount

 

2014

 

$

160 

 

2015

 

612 

 

2016

 

418 

 

2017

 

237 

 

2018

 

143 

 

 

 

$

1,570