Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.21.2
Intangible Assets (Tables)
 6 Months Ended
Jul. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Acquired 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 
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:
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 
Summary of Amortization Expense for Intangible Assets for Each of Next Five Years 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