Astronics Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

Intangible Assets (Tables)

3 Months Ended

Mar. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes acquired intangible assets as follows:


		March 30, 2024				December 31, 2023
(In thousands)	Weighted Average Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Patents	11 years	$	2,146	$	2,146	$	2,146	$	2,146
Non-compete Agreement	4 years	11,082		11,077		11,082		11,072
Trade Names	10 years	11,409		10,068		11,426		9,973
Completed and Unpatented Technology	9 years	47,866		39,878		47,896		38,961
Customer Relationships	15 years	142,155		89,368		142,208		87,186
Total Intangible Assets	13 years	$	214,658	$	152,537	$	214,758	$	149,338

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)		March 30, 2024		April 1, 2023
Amortization Expense		$	3,270	$	3,597

Schedule of Amortization Expense for Intangible Assets for Each of Next Five Years

Amortization expense for acquired intangible assets expected for 2024 and for each of the next five years is summarized as follows:


(In thousands)
2024	$	12,859
2025	$	10,935
2026	$	9,533
2027	$	7,825
2028	$	7,037
2029	$	5,664