| Summary of Acquired Intangible Assets |
The following table summarizes acquired intangible assets as follows:
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September 29, 2018 |
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December 31, 2017 |
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(In thousands) |
Weighted
Average Life
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Gross Carrying
Amount
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Accumulated
Amortization
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|
Gross Carrying
Amount
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Accumulated
Amortization
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Patents |
11 years |
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$ |
2,146 |
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$ |
1,694 |
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$ |
2,146 |
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$ |
1,629 |
Non-compete Agreement |
4 years |
|
10,900 |
|
3,932 |
|
10,900 |
|
1,687 |
Trade Names |
10 years |
|
11,465 |
|
4,915 |
|
11,492 |
|
4,114 |
Completed and Unpatented Technology |
10 years |
|
38,069 |
|
14,951 |
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38,114 |
|
11,931 |
Backlog |
2 years |
|
14,424 |
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14,424 |
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14,424 |
|
12,184 |
Customer Relationships |
15 years |
|
137,984 |
|
36,725 |
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137,967 |
|
30,005 |
Total Intangible Assets |
12 years |
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$ |
214,988 |
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$ |
76,641 |
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$ |
215,043 |
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$ |
61,550 |
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| Summary of Amortization Expense for Acquired Intangibles |
All acquired intangible assets other than goodwill and one trade name are being amortized. Amortization expense for acquired intangibles is summarized as follows:
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Nine Months Ended |
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Three Months Ended |
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(In thousands) |
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September 29, 2018 |
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September 30, 2017 |
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September 29, 2018 |
|
September 30, 2017 |
Amortization Expense |
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$ |
15,144 |
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$ |
8,269 |
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$ |
4,276 |
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$ |
2,929 |
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| Summary of Amortization Expense for Intangible Assets for Each of Next Five Years |
Amortization expense for acquired intangible assets expected for 2018 and for each of the next five years is summarized as follows:
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(In thousands) |
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| 2018 |
$ |
19,403 |
| 2019 |
16,707 |
| 2020 |
15,981 |
| 2021 |
14,072 |
| 2022 |
13,637 |
| 2023 |
12,470 |
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