Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.22.1
Intangible Assets (Tables)
 3 Months Ended
Apr. 02, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Acquired Intangible Assets The following table summarizes acquired intangible assets as follows:
April 2, 2022 December 31, 2021
(In thousands)
Weighted
Average Life
Gross Carrying
Amount
Accumulated
Amortization
Gross Carrying
Amount
Accumulated
Amortization
Patents 11 years $ 2,146  $ 2,000  $ 2,146  $ 1,979 
Non-compete Agreement 4 years 11,082  10,719  11,082  10,592 
Trade Names 10 years 11,426  8,732  11,447  8,518 
Completed and Unpatented Technology 9 years 47,898  31,561  47,932  30,441 
Customer Relationships 15 years 142,211  71,247  142,276  69,033 
Total Intangible Assets 12 years $ 214,763  $ 124,259  $ 214,883  $ 120,563 
Schedule 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:
Three Months Ended
(In thousands)
 April 2, 2022 April 3, 2021
Amortization Expense
 $ 3,765  $ 3,855 
Schedule of Amortization Expense for Intangible Assets for Each of Next Five Years Amortization expense for acquired intangible assets expected for 2022 and for each of the next five years is summarized as follows:
(In thousands)
2022 $ 14,918 
2023 $ 13,878 
2024 $ 12,856 
2025 $ 10,935 
2026 $ 9,533 
2027 $ 7,825