Intangibles

12 Months Ended

Dec. 30, 2023

Intangibles

5. Intangibles

5. INTANGIBLES

Trademarks are not amortized as their lives are deemed to be indefinite. Amortization expense recognized in 2023 and 2022 was $4.0 million. Total amortization expense for each of the next five years is estimated to be as follows: 2024 - $3.9 million; 2025 - $3.9 million; 2026 - $3.4 million; 2027 - $2.4 million and 2028 - $1.0 million.

			Weighted-Average
			Amortization
	2023		Period (Years)
Gross Amount
Patents and developed technology	$	7,677,970		4.1
Customer relationships		26,034,541		3.7
Non-compete agreements		1,068,345		1.5
Total Gross Intangibles	$	34,780,856		3.7
Accumulated Amortization
Patents and developed technology	$	4,045,572
Customer relationships		14,683,710
Non-compete agreements		725,647
Accumulated Amortization	$	19,454,929
Net 2023 per Balance Sheet	$	15,325,927
	2022
Gross Amount
Patents and developed technology	$	7,412,101		4.8
Customer relationships		25,883,709		4.8
Non-compete agreements		1,044,714		2.4
Total Gross Intangibles	$	34,340,524		4.7
Accumulated Amortization
Patents and developed technology	$	3,395,729
Customer relationships		11,620,461
Non-compete agreements		504,437
Accumulated Amortization	$	15,520,627
Net 2022 per Balance Sheet	$	18,819,897