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