Intangible Assets |
Intangible AssetsThe following table summarizes acquired intangible assets as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 28, 2025 | | December 31, 2024 | (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 | | | 11,082 | | Trade Names | 10 years | | 11,473 | | | 10,448 | | | 11,380 | | | 10,351 | | Completed and Unpatented Technology | 9 years | | 47,977 | | | 44,154 | | | 47,818 | | | 42,617 | | Customer Relationships | 15 years | | 142,357 | | | 100,518 | | | 142,065 | | | 95,818 | | Total Intangible Assets | 13 years | | $ | 215,035 | | | $ | 168,348 | | | $ | 214,491 | | | $ | 162,014 | |
All acquired intangible assets other than goodwill and one trade name are being amortized. Amortization expense for acquired intangibles is summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended | | Three Months Ended | (In thousands) | | June 28, 2025 | | June 29, 2024 | | June 28, 2025 | | June 29, 2024 | Amortization Expense | | $ | 5,920 | | | $ | 6,539 | | | $ | 2,945 | | | $ | 3,269 | |
Amortization expense for acquired intangible assets expected for 2025 and for each of the next five years is summarized as follows: | | | | | | (In thousands) | | 2025 | $ | 10,944 | | 2026 | $ | 9,533 | | 2027 | $ | 7,825 | | 2028 | $ | 7,037 | | 2029 | $ | 5,664 | | 2030 | $ | 3,583 | |
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