INTANGIBLES

12 Months Ended

Dec. 28, 2024

INTANGIBLES

INTANGIBLES

5. INTANGIBLES

Trademarks are not amortized as their lives are deemed to be indefinite. Amortization expense recognized in 2024 and 2023 was $4.0 million. Total amortization expense for each of the next five years is estimated to be as follows: 2025 - $2.5 million; 2026 - $2.5 million; 2027 - $1.8 million; 2028 - $0.2 million and 2029 - $0.1 million.

			Weighted-Average
			Amortization
	2024		Period (Years)
Gross Amount
Patents and developed technology	$	7,312,228		4.0
Customer relationships		17,884,257		3.6
Non-compete agreements		141,515		0.5
Total Gross Intangibles	$	25,338,000		3.7
Accumulated Amortization
Patents and developed technology	$	4,134,929
Customer relationships		12,419,398
Non-compete agreements		18,061
Accumulated Amortization	$	16,572,388
Net 2024 per Balance Sheet	$	8,765,612
	2023
Gross Amount
Patents and developed technology	$	7,677,970		4.1
Customer relationships		26,034,541		3.7
Non-compete agreements		1,068,345		1.5
Total Gross Intangibles	$	34,780,856		3.7
Accumulated Amortization
Patents and developed technology	$	4,045,572
Customer relationships		14,683,710
Non-compete agreements		725,647
Accumulated Amortization	$	19,454,929
Net 2023 per Balance Sheet	$	15,325,927