Manitex International, Inc. - 10-K filing on 2016-03-10

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2015

Intangible assets were comprised of the following as of December 31, 2015 and 2014:

	2015			2014			Useful Lives
Patented and unpatented technology	$	29,277		$	20,891		7-10 years
Amortization		(12,631	)		(9,802	)
Customer relationships		43,172			31,477		5-20 years
Amortization		(8,545	)		(5,013	)
Trade names and trademarks		21,625			15,455		25 years - Indefinite
Amortization		(2,281	)		(1,783	)
Non-competition agreements		50			50		2-5 years
Amortization		(38	)		(24	)
Customer backlog		453			462		< 1 year
Amortization		(453	)		(462	)
Total Intangible assets	$	70,629		$	51,251

Estimated amortization expense for the next five years and subsequent is as follows:

	Amount
2016		5,877
2017		5,343
2018		5,223
2019		5,013
2020		4,972
And subsequent		35,124
Total intangibles currently to be amortized	$	61,552

Changes in the Company’s goodwill by business segment were as follows:

	Equipment Lifting Segment			Equipment Distribution Segment		ASV Segment		Total
Balance December 31, 2013	$	22,214		$	275	$	—	$	22,489
Goodwill for ASV acquisition		—			—		30,579		30,579
Effect of change in exchange rates		(402	)		—		—		(402	)
Balance December 31, 2014	$	21,812		$	275	$	30,579	$	52,666
Goodwill for PM Group Acquisition		30,173			—		—		30,173
Effects of change in exchange rate		(2,750	)		—		—		(2,750	)
Balance December 31, 2015	$	49,235		$	275	$	30,579	$	80,089