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BrightView Acquisition Holdings, Inc.
<br />Notes to the Consolidated Financial Statements
<br />For the Years Ended December 31, 2016 and 2015
<br />(in thousands)
<br />4. Accounts Receivable
<br />Accounts receivable of $298,564 and $280,846, is net of allowance for doubtful accounts of $9,740 and $8,347 and
<br />includes amounts of retention on incomplete projects to be completed within one year of $35,546 and $32,146 at
<br />December 31, 2016 and 2015, respectively.
<br />5. Property and Equipment, net
<br />Property and equipment, net consists of the following:
<br />December 31, December 31,
<br />Useful Life 2016 2015
<br />Land -$37,225 $ 37,225
<br />Buildings and leasehold improvements 2-40 yrs.20,231 20,242
<br />Operating equipment 3-7 yrs.164,129 110,448
<br />Transportation vehicles 3-7 yrs.158,929 160,935
<br />Office equipment and software 3-7 yrs.49,675
<br />-1,004
<br />431,193 368,859
<br />183,687
<br />$ 247,506 $ 250,222
<br /> 587,904 $ - $ 587,904
<br /> Trademark 4-12 yrs. 230,900 -230,900
<br /> Internally developed software 3 yrs.3,100 -3,100
<br />Total gross intangible assets 821,904 - 821,904
<br />Less: Accumulated amortization (238,819) (131,562) (370,381)
<br />Intangible assets, net $ 583,085 $ (131,562) $ 451,523
<br />Goodwill $ 1,667,114 $ - $ 1,667,114
<br />Amortization expense related to intangible assets was $131,562 and $139,325 for the years ended December 31,
<br />2016 and 2015, respectively.
<br />The following is a summary of the activity during 2015 for intangible assets and goodwill:
<br />Construction in progress includes costs incurred for software and other assets that have not yet been placed in
<br />service. Depreciation expense related to property and equipment was $79,255 and $74,162 for the years ended
<br />December 31, 2016 and 2015, respectively.
<br />Accumulated depreciation related to property and equipment under capital leases was $15,856 and $11,748 at
<br />December 31, 2016 and 2015, respectively.
<br />6. Intangible Assets and Goodwill
<br />The following is a summary of the activity during 2016 for intangible assets and goodwill:
<br />Useful life
<br />January 1,
<br />2016
<br />Activity
<br />during the
<br />year
<br />December 31,
<br />2016
<br />Identifiable intangible sssets
<br /> Customer contracts and relationships 9-21 yrs. $
<br />118,637
<br />Property and equipment, net
<br />37,389
<br />Construction in progress 2,620
<br />Property and equipment
<br />Less: Accumulated depreciation
<br />13
<br />Confidential
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