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Intangible Assets | 6 Months Ended
--- | ---
Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Intangible Assets The following table summarizes acquired intangible assets as follows:
|  | June 29, 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 |  | 11,403 |  |  | 10,162 |  |  | 11,426 |  |  | 9,973 |
Completed and Unpatented Technology | 9 years |  | 47,857 |  |  | 40,795 |  |  | 47,896 |  |  | 38,961 |
Customer Relationships | 15 years |  | 142,137 |  |  | 91,597 |  |  | 142,208 |  |  | 87,186 |
Total Intangible Assets | 13 years |  | $ | 214,625 |  |  | $ | 155,782 |  |  | $ | 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:
|  | Six Months Ended |  | Three Months Ended
(In thousands) |  | June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
Amortization Expense |  | $ | 6,539 |  |  | $ | 7,196 |  |  | $ | 3,269 |  |  | $ | 3,599 |
Amortization expense for acquired intangible assets expected for 2024 and for each of the next five years is summarized as follows:
(In thousands) |
2024 | $ | 12,863 |
2025 | $ | 10,935 |
2026 | $ | 9,533 |
2027 | $ | 7,825 |
2028 | $ | 7,037 |
2029 | $ | 5,664 |

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