| Intangible Assets |
Intangible Assets
The following table summarizes acquired intangible assets as follows:
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September 30, 2023 |
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December 31, 2022 |
| (In thousands) |
Weighted
Average Life
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Gross Carrying
Amount
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Accumulated
Amortization
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Gross Carrying
Amount
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Accumulated
Amortization
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| Patents |
11 years |
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$ |
2,146 |
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$ |
2,132 |
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$ |
2,146 |
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$ |
2,066 |
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| Non-compete Agreement |
4 years |
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11,082 |
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11,067 |
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11,082 |
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11,052 |
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| Trade Names |
10 years |
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11,393 |
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|
9,879 |
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11,402 |
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9,350 |
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| Completed and Unpatented Technology |
9 years |
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47,840 |
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38,010 |
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47,855 |
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34,877 |
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| Customer Relationships |
15 years |
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142,107 |
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84,798 |
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142,133 |
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|
77,996 |
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| Total Intangible Assets |
12 years |
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$ |
214,568 |
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$ |
145,886 |
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$ |
214,618 |
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$ |
135,341 |
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All acquired intangible assets other than goodwill and one trade name are being amortized. Amortization expense for acquired intangibles is summarized as follows:
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Nine Months Ended |
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Three Months Ended |
(In thousands) |
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September 30, 2023 |
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October 1, 2022 |
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September 30, 2023 |
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October 1, 2022 |
Amortization Expense |
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$ |
10,577 |
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$ |
11,254 |
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$ |
3,381 |
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$ |
3,728 |
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Amortization expense for acquired intangible assets expected for 2023 and for each of the next five years is summarized as follows:
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(In thousands) |
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| 2023 |
$ |
13,893 |
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| 2024 |
$ |
12,856 |
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| 2025 |
$ |
10,935 |
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| 2026 |
$ |
9,533 |
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| 2027 |
$ |
7,825 |
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| 2028 |
$ |
7,037 |
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