Astronics Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

6 Months Ended

Jul. 04, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes acquired intangible assets as follows:



		July 4, 2015				December 31, 2014
(In thousands)	Weighted Average Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Patents	6 Years	$	2,146	$	1,171	$	2,146	$	1,077
Non-compete Agreement	5 Years	2,600		238		—		—
Trade Names	9 Years	10,230		1,748		8,304		1,288
Completed and Unpatented Technology	7 Years	24,079		5,584		18,107		4,396
Backlog and Customer Relationships	12 Years	107,928		24,012		93,448		20,253
Total Intangible Assets	8 Years	$	146,983	$	32,753	$	122,005	$	27,014

All acquired intangible assets other than goodwill and one trade name are being amortized. Amortization expense for acquired intangibles is summarized as follows:



	Six Months Ended				Three Months Ended
(In thousands)	July 4, 2015		June 28, 2014		July 4, 2015		June 28, 2014
Amortization Expense	$	5,772	$	4,904	$	2,920	$	2,437

Amortization expense for acquired intangible assets expected for 2015 and for each of the next five years is summarized as follows:



(In thousands)
2015	$	11,452
2016	10,791
2017	10,361
2018	10,048
2019	9,647
2020	9,094

The Company also incurs amortization expense related to other assets. Such amortization expense was not significant in the three or six months ended July 4, 2015 and June 28, 2014.