Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.7.0.1
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