Astronics Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

9 Months Ended

Oct. 03, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes acquired intangible assets as follows:



		October 3, 2015				December 31, 2014
(In thousands)	Weighted Average Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Patents	6 Years	$	2,146	$	1,217	$	2,146	$	1,077
Non-compete Agreement	5 Years	2,500		354		—		—
Trade Names	8 Years	10,237		1,982		8,304		1,288
Completed and Unpatented Technology	7 Years	24,092		6,190		18,107		4,396
Backlog and Customer Relationships	12 Years	107,739		25,775		93,448		20,253
Total Intangible Assets	7 Years	$	146,714	$	35,518	$	122,005	$	27,014

All acquired intangible assets other than goodwill and one trade name are being amortized. Amortization expense for acquired intangibles is summarized as follows:



	Nine Months Ended				Three Months Ended
(In thousands)	October 3, 2015		September 27, 2014		October 3, 2015		September 27, 2014
Amortization Expense	$	8,534	$	12,673	$	2,761	$	7,769

Amortization expense for acquired intangible assets expected for 2015 and for each of the next five years is summarized as follows:



(In thousands)
2015	$	11,341
2016	10,762
2017	10,336
2018	10,023
2019	9,622
2020	9,088

The Company also incurs amortization expense related to other assets. Such amortization expense was not significant in the three or nine months ended October 3, 2015 and September 27, 2014.