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Acquired Intangible Assets

3 Months Ended

Mar. 31, 2021

Acquired Intangible Assets [Abstract]

Note 7. Acquired Intangible Assets

Acquired identifiable intangible assets consist of the following:

	March 31, 2021			December 31, 2020
	(In thousands)
Customer relationships	$	112,440		$	111,701
Trademarks and trade names		6,980			6,980
Non-compete agreements		3,270			3,272
Patents		723			723
Supply agreements		800			800
Leaseholds		160			160
Total acquired intangible assets		124,373			123,636
Less accumulated amortization (1)		(72,272	)		(70,221	)
Net acquired intangible assets	$	52,101		$	53,415

(1)

Applies to all intangible assets, except for trademarks and trade names totaling $2.6 million, which have indefinite useful lives and, as such, are not being amortized.

In March 2021, we acquired certain assets and liabilities of the particulate matter sensor product lines from Stoneridge, Inc. Intangible assets acquired of approximately $0.8 million consist of customer relationships that will be amortized on a straight-line basis over the estimated useful life of 10 years.

Total amortization expense for acquired intangible assets was $2.1 million and $2 million for the three months ended March 31, 2021 and 2020, respectively. Based on the current estimated useful lives assigned to our intangible assets, amortization expense is estimated to be $4.8 million for the remainder of 2021, $5.3 million in 2022, $5 million in 2023, $5 million in 2024 and $29.4 million in the aggregate for the years 2025 through 2034.