Intangible Assets |
Intangible AssetsThe following table summarizes acquired intangible assets as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 28, 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 | | 11,435 | | | 10,257 | | | 11,426 | | | 9,973 | | Completed and Unpatented Technology | 9 years | | 47,911 | | | 41,710 | | | 47,896 | | | 38,961 | | Customer Relationships | 15 years | | 142,236 | | | 93,913 | | | 142,208 | | | 87,186 | | Total Intangible Assets | 13 years | | $ | 214,810 | | | $ | 159,108 | | | $ | 214,758 | | | $ | 149,338 | |
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) | | September 28, 2024 | | September 30, 2023 | | September 28, 2024 | | September 30, 2023 | Amortization Expense | | $ | 9,728 | | | $ | 10,577 | | | $ | 3,189 | | | $ | 3,381 | |
Amortization expense for acquired intangible assets expected for 2024 and for each of the next five years is summarized as follows: | | | | | | (In thousands) | | 2024 | $ | 12,868 | | 2025 | $ | 10,935 | | 2026 | $ | 9,533 | | 2027 | $ | 7,825 | | 2028 | $ | 7,037 | | 2029 | $ | 5,664 | |
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