Intangibles (Tables)

6 Months Ended

Jul. 01, 2017

Intangibles [Abstract]

Gross carrying amount and accumulated amortization of amortizable intangible assets

The gross carrying amount and accumulated amortization of amortizable intangible assets are as follows:

	Industrial Hardware Segment		Security Products Segment		Metal Products Segment		Total		Weighted-Average Amortization Period (Years)
2017 Gross Amount
Patents and developed technology	$	6,608,772	$	1,047,844	$	--	$	7,656,616		12.9
Customer relationships		3,650,000		449,706		--		4,099,706		9.5
Non-compete agreements		--		407,000		--		407,000		5.0
Intellectual property		--		307,370		--		307,370		5.0
Total Gross Intangibles	$	10,258,772	$	2,211,920	$	--	$	12,470,692		11.2
2017 Accumulated Amortization
Patents and developed technology	$	1,704,323	$	639,168	$	--	$	2,343,491
Customer relationships		91,250		224,853		--		316,103
Non-compete agreements		--		203,500		--		203,500
Intellectual property		--		153,684		--		153,684
Accumulated Amortization	$	1,795,573	$	1,221,205	$	--	$	3,016,778
Net July 1, 2017 per Balance Sheet	$	8,463,199	$	990,715	$	--	$	9,453,914

2016 Gross Amount
Patents and developed technology	$	2,159,060	$	1,035,374	$	--	$	3,194,434	15.6
Customer relationships		--		449,706		--		449,706	5.0
Non-compete agreements		--		407,000		--		407,000	5.0
Intellectual property		--		307,370		--		307,370	5.0
Total Gross Intangibles	$	2,159,060	$	2,199,450	$	--	$	4,358,510	12.3
2016 Accumulated Amortization
Patents and developed technology	$	1,529,675	$	598,756	$	--	$	2,128,431
Customer relationships		--		179,882		--		179,882
Non-compete agreements		--		162,800		--		162,800
Intellectual property		--		122,948		--		122,948
Accumulated Amortization	$	1,529,675	$	1,064,386	$	--	$	2,594,061
Net December 31, 2016 per Balance Sheet	$	629,385	$	1,135,064	$	--	$	1,764,449