Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.23.3
Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Acquired Intangible Assets The following table summarizes acquired intangible assets as follows:
September 30, 2023 December 31, 2022
(In thousands)
Weighted
Average Life
Gross Carrying
Amount
Accumulated
Amortization
Gross Carrying
Amount
Accumulated
Amortization
Patents 11 years $ 2,146  $ 2,132  $ 2,146  $ 2,066 
Non-compete Agreement 4 years 11,082  11,067  11,082  11,052 
Trade Names 10 years 11,393  9,879  11,402  9,350 
Completed and Unpatented Technology 9 years 47,840  38,010  47,855  34,877 
Customer Relationships 15 years 142,107  84,798  142,133  77,996 
Total Intangible Assets 12 years $ 214,568  $ 145,886  $ 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:
Nine Months Ended Three Months Ended
(In thousands)
 September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022
Amortization Expense
 $ 10,577  $ 11,254  $ 3,381  $ 3,728 
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 $ 13,893 
2024 $ 12,856 
2025 $ 10,935 
2026 $ 9,533 
2027 $ 7,825 
2028 $ 7,037