Intangible Assets |
Intangible AssetsThe following table summarizes acquired intangible assets as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | October 1, 2022 | | December 31, 2021 | (In thousands) | Weighted Average Life | | Gross Carrying Amount | | Accumulated Amortization | | Gross Carrying Amount | | Accumulated Amortization | Patents | 11 years | | $ | 2,146 | | | $ | 2,044 | | | $ | 2,146 | | | $ | 1,979 | | Non-compete Agreement | 4 years | | 11,082 | | | 10,972 | | | 11,082 | | | 10,592 | | Trade Names | 10 years | | 11,339 | | | 9,151 | | | 11,447 | | | 8,518 | | Completed and Unpatented Technology | 9 years | | 47,747 | | | 33,784 | | | 47,932 | | | 30,441 | | Customer Relationships | 15 years | | 141,939 | | | 75,488 | | | 142,276 | | | 69,033 | | Total Intangible Assets | 12 years | | $ | 214,253 | | | $ | 131,439 | | | $ | 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: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended | | Three Months Ended | (In thousands) | | October 1, 2022 | | October 2, 2021 | | October 1, 2022 | | October 2, 2021 | Amortization Expense | | $ | 11,254 | | | $ | 11,565 | | | $ | 3,728 | | | $ | 3,853 | |
Amortization expense for acquired intangible assets expected for 2022 and for each of the next five years is summarized as follows: | | | | | | (In thousands) | | 2022 | $ | 14,922 | | 2023 | $ | 13,878 | | 2024 | $ | 12,856 | | 2025 | $ | 10,935 | | 2026 | $ | 9,533 | | 2027 | $ | 7,825 | |
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