| Intangible Assets |
Intangible Assets
The following table summarizes acquired intangible assets as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 3, 2021 |
|
December 31, 2020 |
| (In thousands) |
Weighted
Average Life
|
|
Gross Carrying
Amount
|
|
Accumulated
Amortization
|
|
Gross Carrying
Amount
|
|
Accumulated
Amortization
|
| Patents |
11 years |
|
$ |
2,146 |
|
|
$ |
1,935 |
|
|
$ |
2,146 |
|
|
$ |
1,891 |
|
| Non-compete Agreement |
4 years |
|
11,082 |
|
|
10,339 |
|
|
11,082 |
|
|
10,085 |
|
| Trade Names |
10 years |
|
11,484 |
|
|
8,031 |
|
|
11,512 |
|
|
7,537 |
|
| Completed and Unpatented Technology |
9 years |
|
47,995 |
|
|
28,112 |
|
|
48,043 |
|
|
25,766 |
|
| Customer Relationships |
15 years |
|
142,390 |
|
|
64,585 |
|
|
142,478 |
|
|
60,096 |
|
| Total Intangible Assets |
12 years |
|
$ |
215,097 |
|
|
$ |
113,002 |
|
|
$ |
215,261 |
|
|
$ |
105,375 |
|
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 3, 2021 |
|
June 27, 2020 |
|
July 3, 2021 |
|
June 27, 2020 |
Amortization Expense |
|
$ |
7,712 |
|
|
$ |
8,642 |
|
|
$ |
3,857 |
|
|
$ |
4,377 |
|
Amortization expense for acquired intangible assets expected for 2021 and for each of the next five years is summarized as follows:
|
|
|
|
|
|
(In thousands) |
|
| 2021 |
$ |
15,371 |
|
| 2022 |
$ |
14,911 |
|
| 2023 |
$ |
13,878 |
|
| 2024 |
$ |
12,856 |
|
| 2025 |
$ |
10,935 |
|
| 2026 |
$ |
9,533 |
|
|