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, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

INTANGIBLE ASSETS

The following table summarizes acquired intangible assets as follows:



		December 31, 2016				December 31, 2015
(In thousands)	Weighted Average Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Patents	4 Years	$	2,146	$	1,450	$	2,146	$	1,264
Noncompete Agreement	3 Years	2,500		979		2,500		479
Trade Names	7 Years	10,189		3,153		10,217		2,216
Completed and Unpatented Technology	6 Years	24,118		9,221		24,056		6,795
Backlog	-	11,224		11,224		11,202		10,793
Customer Relationships	12 Years	97,046		23,093		96,472		16,770
Total Intangible Assets	6 Years	$	147,223	$	49,120	$	146,593	$	38,317

Amortization is computed on the straight-line method for financial reporting purposes, with the exception of backlog, which is amortized based on the expected realization period of the acquired backlog. Amortization expense for intangibles was $10.8 million, $11.3 million and $15.8 million for 2016, 2015 and 2014, respectively.

Based upon acquired intangible assets at December 31, 2016, amortization expense for each of the next five years is estimated to be:



(In thousands)
2017	$	10,445
2018	10,133
2019	9,754
2020	9,198
2021	9,152