Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.20.2
Intangible Assets
6 Months Ended
Jun. 27, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
The following table summarizes acquired intangible assets as follows: 
June 27, 2020 December 31, 2019
(In thousands)
Weighted
Average Life
Gross Carrying
Amount
Accumulated
Amortization
Gross Carrying
Amount
Accumulated
Amortization
Patents 11 years $ 2,146    $ 1,847    $ 2,146    $ 1,804   
Non-compete Agreement 4 years 11,091    8,989    11,318    7,696   
Trade Names 10 years 11,438    7,043    11,438    6,550   
Completed and Unpatented Technology 9 years 48,200    23,450    48,201    21,196   
Customer Relationships 15 years 142,439    55,337    142,212    50,776   
Total Intangible Assets 12 years $ 215,314    $ 96,666    $ 215,315    $ 88,022   
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)
June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019
Amortization Expense
$ 8,642    $ 8,352    $ 4,377    $ 4,128   
Amortization expense for acquired intangible assets expected for 2020 and for each of the next five years is summarized as follows:
(In thousands)
2020 $ 17,207   
2021 $ 15,404   
2022 $ 14,973   
2023 $ 13,939   
2024 $ 12,917   
2025 $ 10,996