AMORTIZABLE INTANGIBLE ASSETS

9 Months Ended

Sep. 28, 2019

AMORTIZABLE INTANGIBLE ASSETS.

AMORTIZABLE INTANGIBLE ASSETS

17.  Identifiable amortizable intangible assets as of September 28, 2019 include trade names, intellectual property and customer related intangibles. These intangibles were all related to acquisition activity in the second quarter 2019 and are still in the process of being finalized. The amounts are subject to change as additional information is obtained over the coming months. See Note 16 for additional discussion. Collectively, these assets were carried at $12,991,000, net of $119,000 accumulated amortization as of September  28, 2019. The pre-tax amortization expense for intangible assets during the quarters ended September  28, 2019 and September 29, 2018 was $119,000 and zero, respectively.

Based upon the intangible assets recorded on the balance sheet at September  28, 2019, amortization expense for the next five years is estimated to be as follows: 2019 – $337,000;  2020 through 2023 – $675,000 each year.