Acquired Intangible Assets

6 Months Ended

Jun. 30, 2019

Acquired Intangible Assets [Abstract]

Acquired Intangible Assets

Note 8.  Acquired Intangible Assets

Acquired identifiable intangible assets consist of the following:

	June 30, 2019			December 31, 2018
	(In thousands)
Customer relationships	$	111,604		$	87,195
Trademarks and trade names		6,980			6,800
Non-compete agreements		3,275			3,193
Patents		723			723
Supply agreements		800			800
Leaseholds		160			160
Total acquired intangible assets		123,542			98,871
Less accumulated amortization (1)		(55,313	)		(51,391	)
Net acquired intangible assets	$	68,229		$	47,480

(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 2019, we acquired certain assets and liabilities of the Pollak business of Stoneridge, Inc.  Intangible assets acquired of $24.7 million consists of customer relationships related to the acquired OE/OES business of $17.2 million that will be amortized on a straight-line basis over the estimated useful life of 10 years; customer relationships related to the acquired aftermarket business of $7.2 million that will be amortized on a straight-line basis over the estimated useful life of 15 years; a trademark of $0.2 million that will be amortized on a straight-line basis over the estimated useful life of 10 years; and a non-compete agreement 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 $2.1 million and $3.9 million for the three months and six months ended June 30, 2019 respectively, and $1.9 million and $3.8 million for the comparable periods in 2018.  Based on the current estimated useful lives assigned to our acquired intangible assets, amortization expense is estimated to be $4.1 million for the remainder of 2019, $8.2 million in 2020, $6.8 million in 2021, $5.2 million in 2022 and $38.7 million in the aggregate for the years 2023 through 2034.