Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.23.2
Intangible Assets (Tables)
 6 Months Ended
Jul. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Acquired Intangible Assets The following table summarizes acquired intangible assets as follows:
July 1, 2023 December 31, 2022
(In thousands)
Weighted
Average Life
Gross Carrying
Amount
Accumulated
Amortization
Gross Carrying
Amount
Accumulated
Amortization
Patents 11 years $ 2,146  $ 2,110  $ 2,146  $ 2,066 
Non-compete Agreement 4 years 11,082  11,062  11,082  11,052 
Trade Names 10 years 11,417  9,749  11,402  9,350 
Completed and Unpatented Technology 9 years 47,880  37,063  47,855  34,877 
Customer Relationships 15 years 142,180  82,613  142,133  77,996 
Total Intangible Assets 12 years $ 214,705  $ 142,597  $ 214,618  $ 135,341 
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:
Six Months Ended Three Months Ended
(In thousands)
 July 1, 2023 July 2, 2022 July 1, 2023 July 2, 2022
Amortization Expense
 $ 7,196  $ 7,526  $ 3,599  $ 3,761 
Schedule of Amortization Expense for Intangible Assets for Each of Next Five Years
Amortization expense for acquired intangible assets expected for 2023 and for each of the next five years is summarized as follows:
(In thousands)
2023 $ 13,888 
2024 $ 12,856 
2025 $ 10,935 
2026 $ 9,533 
2027 $ 7,825 
2028 $ 7,037