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

INTANGIBLE ASSETS

v3.25.4
INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
The following table summarizes acquired intangible assets at December 31 as follows:
  2025 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 11,565  10,541  11,380  10,351 
Completed and Unpatented Technology 9 years 47,980  45,207  47,818  42,617 
Backlog 4 years 3,991  177  —  — 
Customer Relationships 15 years 145,773  104,531  142,065  95,818 
Licensing Agreement 13 years 6,760  260  —  — 
Total Intangible Assets 13 years $ 229,297  $ 173,944  $ 214,491  $ 162,014 
Amortization is computed on the straight line method for financial reporting purposes. Amortization expense for intangibles was $11.5 million, $12.9 million and $13.9 million for 2025, 2024 and 2023, respectively.
Based upon acquired intangible assets at December 31, 2025, amortization expense for each of the next five years is estimated to be:
(In thousands)  
2026 $ 11,206 
2027 $ 9,498 
2028 $ 8,711 
2029 $ 7,161 
2030 $ 4,406