Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.21.2
Intangible Assets
6 Months Ended
Jul. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
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