Intangible Assets |
Intangible Assets
The following table summarizes acquired intangible assets as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 28, 2025 |
|
December 31, 2024 |
(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 |
|
|
11,082 |
|
Trade Names |
10 years |
|
11,473 |
|
|
10,448 |
|
|
11,380 |
|
|
10,351 |
|
Completed and Unpatented Technology |
9 years |
|
47,977 |
|
|
44,154 |
|
|
47,818 |
|
|
42,617 |
|
Customer Relationships |
15 years |
|
142,357 |
|
|
100,518 |
|
|
142,065 |
|
|
95,818 |
|
Total Intangible Assets |
13 years |
|
$ |
215,035 |
|
|
$ |
168,348 |
|
|
$ |
214,491 |
|
|
$ |
162,014 |
|
All acquired intangible assets other than goodwill and one trade name are being amortized. Amortization expense for acquired intangibles is summarized as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
Three Months Ended |
(In thousands) |
|
June 28, 2025 |
|
June 29, 2024 |
|
June 28, 2025 |
|
June 29, 2024 |
Amortization Expense |
|
$ |
5,920 |
|
|
$ |
6,539 |
|
|
$ |
2,945 |
|
|
$ |
3,269 |
|
Amortization expense for acquired intangible assets expected for 2025 and for each of the next five years is summarized as follows:
|
|
|
|
|
|
(In thousands) |
|
2025 |
$ |
10,944 |
|
2026 |
$ |
9,533 |
|
2027 |
$ |
7,825 |
|
2028 |
$ |
7,037 |
|
2029 |
$ |
5,664 |
|
2030 |
$ |
3,583 |
|
|