SEC Filings

10-Q
ENVISION HEALTHCARE CORP filed this Form 10-Q on 11/03/2017
Entire Document
 
Item 1. Financial Statements - (continued)

Intangible assets at September 30, 2017 and December 31, 2016 consisted of the following (in millions):
 
September 30, 2017
 
December 31, 2016
 
Gross
 
 
 
 
 
Gross
 
 
 
 
 
Carrying
 
Accumulated
 
 
 
Carrying
 
Accumulated
 
 
 
Amount
 
Amortization
 
Net 
 
Amount
 
Amortization
 
Net 
Amortizable intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
$
3,429.8

 
$
(279.2
)
 
$
3,150.6

 
$
3,235.0

 
$
(154.6
)
 
$
3,080.4

Capitalized software
152.6

 
(65.2
)
 
87.4

 
136.5

 
(41.8
)
 
94.7

Trade names
25.0

 
(20.8
)
 
4.2

 
25.0

 
(2.1
)
 
22.9

Agreements, contracts and other
13.8

 
(6.3
)
 
7.5

 
13.2

 
(4.7
)
 
8.5

Total amortizable intangible assets
3,621.2

 
(371.5
)
 
3,249.7

 
3,409.7

 
(203.2
)
 
3,206.5

Non-amortizable intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Trade names
430.0

 

 
430.0

 
460.0

 

 
460.0

Restrictive covenant arrangements
8.0

 

 
8.0

 
9.0

 

 
9.0

Total non-amortizable intangible assets
438.0

 

 
438.0

 
469.0

 

 
469.0

Total intangible assets
$
4,059.2

 
$
(371.5
)
 
$
3,687.7

 
$
3,878.7

 
$
(203.2
)
 
$
3,675.5


Amortization of intangible assets for the three months ended September 30, 2017 and 2016 was $57.1 million and $22.3 million, respectively, and $168.7 million and $63.8 million for the nine months ended September 30, 2017 and 2016, respectively. Estimated amortization of intangible assets for the remainder of 2017 and each of the following five years and thereafter is $59.9 million, $202.3 million, $193.1 million, $186.2 million, $181.8 million, $176.5 million and $2.25 billion, respectively. The Company expects to recognize amortization of all intangible assets over a weighted average period of 18.0 years with no expected residual values.

(9) Other Accrued Liabilities

The following table presents a summary of items comprising other accrued liabilities in the accompanying consolidated balance sheets as of September 30, 2017 and December 31, 2016 (in millions):
 
September 30,
 
December 31,
 
2017
 
2016
Insurance reserves
$
76.3

 
$
78.2

Refunds payable
35.1

 
33.6

Deferred revenue
13.5

 
9.4

Other
165.3

 
132.0

Total other accrued liabilities
$
290.2

 
$
253.2



22