| Intangible Assets |
Intangible Assets
The following table summarizes acquired intangible assets as follows:
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March 29, 2025 |
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December 31, 2024 |
| (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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$ |
2,146 |
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$ |
2,146 |
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$ |
2,146 |
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| Non-compete Agreement |
4 years |
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11,082 |
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11,082 |
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11,082 |
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11,082 |
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| Trade Names |
10 years |
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11,411 |
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10,404 |
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11,380 |
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10,351 |
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| Completed and Unpatented Technology |
9 years |
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47,871 |
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43,398 |
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47,818 |
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42,617 |
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| Customer Relationships |
15 years |
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142,162 |
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98,096 |
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142,065 |
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95,818 |
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| Total Intangible Assets |
13 years |
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$ |
214,672 |
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$ |
165,126 |
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$ |
214,491 |
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$ |
162,014 |
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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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Three Months Ended |
(In thousands) |
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March 29, 2025 |
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March 30, 2024 |
Amortization Expense |
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$ |
2,975 |
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$ |
3,270 |
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Amortization expense for acquired intangible assets expected for 2025 and for each of the next five years is summarized as follows:
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(In thousands) |
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| 2025 |
$ |
10,938 |
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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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| 2029 |
$ |
5,664 |
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| 2030 |
$ |
3,583 |
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