Acquired Intangible Assets

6 Months Ended

Jun. 30, 2014

Acquired Intangible Assets [Abstract]

Acquired Intangible Assets

Note 7. Acquired Intangible Assets

Acquired identifiable intangible assets consist of the following:

	June 30, 2014			December 31, 2013
	(In thousands)
Customer relationships	$	49,017		$	44,179
Trademarks and trade names		6,800			6,800
Non-compete agreements		970			910
Patents and supply contracts		723			723
Leaseholds		160			160
Total acquired intangible assets		57,670			52,772
Less accumulated amortization (1)		(21,612	)		(19,202	)
Net acquired intangible assets	$	36,058		$	33,570

(1) Applies to all intangible assets, except for trademarks and trade names totaling $5.2 million, which have indefinite useful lives and, as such, are not being amortized.

In April 2014, we acquired certain assets and assumed certain liabilities of Annex Manufacturing.  Intangible assets acquired consisted of customer relationships of $4.7 million that will be amortized on a straight-line basis over the estimated useful life of 7 years and non-compete agreements of $0.1 million that will be amortized on a straight-line basis over the estimated useful life of 5 years.

Total amortization expense for acquired intangible assets was $1.2 million and $2.4 million for the three months and six months ended June 30, 2014, respectively, and $1.4 million and $2.7 million for the comparable periods in 2013.  Based on the current estimated useful lives assigned to our acquired intangible assets, amortization expense is estimated to be $2.6 million for the remainder of 2014, $5 million in 2015, $4.9 million in 2016, $4.7 million in 2017 and $13.7 million in the aggregate for the years 2018 through 2028.