Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.21.1
Intangible Assets (Tables)
 3 Months Ended
Apr. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Acquired Intangible Assets
The following table summarizes acquired intangible assets as follows: 
April 3, 2021 December 31, 2020
(In thousands)
Weighted
Average Life
Gross Carrying
Amount
Accumulated
Amortization
Gross Carrying
Amount
Accumulated
Amortization
Patents 11 years $ 2,146  $ 1,913  $ 2,146  $ 1,891 
Non-compete Agreement 4 years 11,082  10,212  11,082  10,085 
Trade Names 10 years 11,476  7,784  11,512  7,537 
Completed and Unpatented Technology 9 years 47,982  26,939  48,043  25,766 
Customer Relationships 15 years 142,367  62,275  142,478  60,096 
Total Intangible Assets 12 years $ 215,053  $ 109,123  $ 215,261  $ 105,375 
Summary of Amortization Expense for Acquired Intangibles
All acquired intangible assets other than goodwill and one trade name are being amortized. Amortization expense for acquired intangibles is summarized as follows: 
Three Months Ended
(In thousands)
 April 3, 2021 March 28, 2020
Amortization Expense
 $ 3,855  $ 4,265 
Summary of Amortization Expense for Intangible Assets for Each of Next Five Years
Amortization expense for acquired intangible assets expected for 2021 and for each of the next five years is summarized as follows:
(In thousands)
2021 $ 15,356 
2022 $ 14,911 
2023 $ 13,878 
2024 $ 12,856 
2025 $ 10,935 
2026 $ 9,533