Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.22.1
Intangible Assets
3 Months Ended
Apr. 02, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
The following table summarizes acquired intangible assets as follows:
April 2, 2022 December 31, 2021
(In thousands)
Weighted
Average Life
Gross Carrying
Amount
Accumulated
Amortization
Gross Carrying
Amount
Accumulated
Amortization
Patents 11 years $ 2,146  $ 2,000  $ 2,146  $ 1,979 
Non-compete Agreement 4 years 11,082  10,719  11,082  10,592 
Trade Names 10 years 11,426  8,732  11,447  8,518 
Completed and Unpatented Technology 9 years 47,898  31,561  47,932  30,441 
Customer Relationships 15 years 142,211  71,247  142,276  69,033 
Total Intangible Assets 12 years $ 214,763  $ 124,259  $ 214,883  $ 120,563 
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 2, 2022 April 3, 2021
Amortization Expense
$ 3,765  $ 3,855 
Amortization expense for acquired intangible assets expected for 2022 and for each of the next five years is summarized as follows:
(In thousands)
2022 $ 14,918 
2023 $ 13,878 
2024 $ 12,856 
2025 $ 10,935 
2026 $ 9,533 
2027 $ 7,825