Astronics Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Intangible Assets

Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 4 — INTANGIBLE ASSETS

The following table summarizes acquired intangible assets as follows:


	December 31, 2014					December 31, 2013
(In thousands)	Weighted Average Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Patents	6 Years	$	2,146	$	1,077	$	2,146	$	891
Trade Names	9 Years		8,304		1,288		7,453		552
Completed and Unpatented Technology	7 Years		18,107		4,396		15,377		2,620
Backlog and Customer Relationships	12 Years		93,448		20,253		88,998		7,210

Total Intangible Assets	9 Years	$	122,005	$	27,014	$	113,974	$	11,273

Amortization is computed on the straight-line method for financial reporting purposes, with the exception of backlog. Amortization expense for intangibles was $15.8 million, $4.9 million and $2.3 million for 2014, 2013 and 2012, respectively.

Based upon acquired intangible assets at December 31, 2014, amortization expense for each of the next five years is estimated to be:


(In thousands)
2015	$	9,148
2016	$	8,691
2017	$	8,273
2018	$	7,960
2019	$	7,559