Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

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INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
The following table summarizes acquired intangible assets at December 31 as follows:
  2023 2022
(In thousands)
Weighted
Average Life
Gross Carrying
Amount
Accumulated
Amortization
Gross Carrying
Amount
Accumulated
Amortization
Patents 11 years $ 2,146  $ 2,146  $ 2,146  $ 2,066 
Non-compete Agreement 4 years 11,082  11,072  11,082  11,052 
Trade Names 10 years 11,426  9,973  11,402  9,350 
Completed and Unpatented Technology 9 years 47,896  38,961  47,855  34,877 
Customer Relationships 15 years 142,208  87,186  142,133  77,996 
Total Intangible Assets 12 years $ 214,758  $ 149,338  $ 214,618  $ 135,341 
Amortization is computed on the straight line method for financial reporting purposes. Amortization expense for intangibles was $13.9 million, $14.9 million and $15.4 million for 2023, 2022 and 2021, respectively.
Based upon acquired intangible assets at December 31, 2023, amortization expense for each of the next five years is estimated to be:
(In thousands)  
2024 $ 12,856 
2025 $ 10,935 
2026 $ 9,533 
2027 $ 7,825 
2028 $ 7,037