Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.24.2.u1
Intangible Assets (Tables)
 6 Months Ended
Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Acquired Intangible Assets
The following table summarizes acquired intangible assets as follows:
June 29, 2024 December 31, 2023
(In thousands)
Weighted
Average Life
Gross Carrying
Amount
Accumulated
Amortization
Gross Carrying
Amount
Accumulated
Amortization
Patents 11 years $ 2,146  $ 2,146  $ 2,146  $ 2,146 
Non-compete Agreement 4 years 11,082  11,082  11,082  11,072 
Trade Names 10 years 11,403  10,162  11,426  9,973 
Completed and Unpatented Technology 9 years 47,857  40,795  47,896  38,961 
Customer Relationships 15 years 142,137  91,597  142,208  87,186 
Total Intangible Assets 13 years $ 214,625  $ 155,782  $ 214,758  $ 149,338 
Schedule 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:
Six Months Ended Three Months Ended
(In thousands)
 June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023
Amortization Expense
 $ 6,539  $ 7,196  $ 3,269  $ 3,599 
Schedule of Amortization Expense for Intangible Assets for Each of Next Five Years
Amortization expense for acquired intangible assets expected for 2024 and for each of the next five years is summarized as follows:
(In thousands)
2024 $ 12,863 
2025 $ 10,935 
2026 $ 9,533 
2027 $ 7,825 
2028 $ 7,037 
2029 $ 5,664