Annual report [Section 13 and 15(d), not S-K Item 405]

INTANGIBLE ASSETS

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INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
The following table summarizes acquired intangible assets at December 31 as follows:
  2024 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  11,082  11,082  11,072 
Trade Names 10 years 11,380  10,351  11,426  9,973 
Completed and Unpatented Technology 9 years 47,818  42,617  47,896  38,961 
Customer Relationships 15 years 142,065  95,818  142,208  87,186 
Total Intangible Assets 13 years $ 214,491  $ 162,014  $ 214,758  $ 149,338 
Amortization is computed on the straight line method for financial reporting purposes. Amortization expense for intangibles was $12.9 million, $13.9 million and $14.9 million for 2024, 2023 and 2022, respectively.
Based upon acquired intangible assets at December 31, 2024, amortization expense for each of the next five years is estimated to be:
(In thousands)  
2025 $ 10,935 
2026 $ 9,533 
2027 $ 7,825 
2028 $ 7,037 
2029 $ 5,664