Annual report pursuant to Section 13 and 15(d)

CUSTOMER CONTRACTS AND OTHER INTANGIBLE ASSETS

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CUSTOMER CONTRACTS AND OTHER INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
CUSTOMER CONTRACTS AND OTHER INTANGIBLE ASSETS
CUSTOMER CONTRACTS AND OTHER INTANGIBLE ASSETS
Customer contracts are amortized on a straight-line basis over the period of the agreements, as straight-line best approximates the ratio that current revenues bear to the total of current and anticipated revenues, based on the estimated lives of the assets. In accordance with the FASB ASC Topic 350 “Intangibles - Goodwill and other”, the expected lives of customer contracts were reviewed, and it was determined that customer contracts should be amortized over a life of 7 to 20 years dependent upon customer type. The carrying amount and accumulated amortization for customer contracts were as follows:

December 31,
2017
 
2016
(in thousands)
 
 
 
Customer contracts
$
290,628

 
$
251,194

Less: Accumulated amortization
(137,759
)
 
(133,728
)
Customer contracts, net
$
152,869

 
$
117,466


The carrying amount of customer contracts in foreign countries was $29.8 million as of December 31, 2017 and $29.7 million as of December 31, 2016.
 
Other intangible assets include non-compete agreements, patents and finite lived and indefinite lived trade names. Non-compete agreements are amortized on a straight-line basis over periods ranging from 3 to 20 years and patents are amortized on a straight-line basis over 15 years. The carrying amount and accumulated amortization for other intangible assets were as follows:

At December 31,
2017
 
2016
(in thousands)
 
 
 
Other intangible assets
$
75,780

 
$
56,937

Less:  Accumulated amortization
(14,232
)
 
(12,627
)
Other intangible assets, net
$
61,548

 
$
44,310



The carrying amount of other intangible assets in foreign countries was $3.5 million as of December 31, 2017 and $3.8 million as of December 31, 2016.
Included in the table above are trademarks and trade names of $35.0 million and $32.7 million at December 31, 2017 and 2016, respectively. Also included in the table above are non-amortizable, indefinite lived intangible assets of $32.2 million and $29.7 million at December 31, 2017 and 2016, respectively.
 
The carrying amount of customer contracts and other intangible assets, net were as follows:

December 31,
2017
 
2016
(in thousands)
 
 
 
Customer contracts, net
$
152,869

 
$
117,466

Other intangible assets, net
61,548

 
44,310

Customer contracts and other intangible assets, net
$
214,417

 
$
161,776


Total amortization expense was approximately $29.2 million in 2017, $26.2 million in 2016 and $25.2 million in 2015.
Estimated amortization expense for the existing carrying amount of customer contracts and other intangible assets for each of the five succeeding fiscal years are as follows:
(in thousands)
 
2018
$
27,029

2019
24,052

2020
21,872

2021
20,431

2022
18,925