Acquired Intangible Assets

6 Months Ended

Jun. 30, 2016

Acquired Intangible Assets [Abstract]

Acquired Intangible Assets

Note 7.        Acquired Intangible Assets

Acquired identifiable intangible assets consist of the following:

	June 30, 2016			December 31, 2015
	(In thousands)
Customer relationships	$	87,506		$	48,475
Trademarks and trade names		6,800			6,800
Non-compete agreements		3,208			970
Patents		723			723
Supply agreements		800			—
Leaseholds		160			160
Total acquired intangible assets		99,197			57,128
Less accumulated amortization (1)		(31,667	)		(29,040	)
Net acquired intangible assets	$	67,530		$	28,088

(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 May 2016, we acquired the North American automotive ignition wire business of General Cable Corporation.  Intangible assets acquired in the acquisition of $42.4 million consists of customer relationships of $39.4 million that will be amortized on a straight-line basis over the estimated useful life of 15 years; a non-compete agreement of $2.2 million that will be amortized on a straight-line basis over the estimated useful life of 5 years; and a supply agreement of $0.8 million that will be amortized on a straight-line basis over the estimated useful life of 1 year.

Total amortization expense for acquired intangible assets was $1.5 million and $2.7 million for the three months and six months ended June 30, 2016, respectively, and $1.2 million and $2.5 million for the comparable periods in 2015.  Based on the current estimated useful lives assigned to our acquired intangible assets, amortization expense is estimated to be $4.3 million for the remainder of 2016, $8.1 million in 2017, $7.6 million in 2018, $6.4 million in 2019 and $35.9 million in the aggregate for the years 2020 through 2031.