Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets are summarized as follows (in thousands):

	Weighted Average Estimated Useful Life	December 31,
		2019			2018
Product technology	8 years	$	207,511		$	117,563
Customer relationships	11 years	67,274			73,260
Trademarks and trade name portfolios	8 years	18,557			7,220
Trade name portfolio not subject to amortization	indefinite	32,076			32,076
In-process research and development	8 years	34,698			1,638
Other	8 years	10,756			6,272
Acquired identifiable intangibles		370,872			238,029
Less accumulated amortization		(124,411		)	(93,154		)
Net acquired identifiable intangibles		246,461			144,875
Patents	7 years	6,075			6,086
Less accumulated amortization		(5,109		)	(4,253		)
Net patents		966			1,833
Acquired in-place leases and other	10 years	441			446
Less accumulated amortization		(354		)	(309		)
Net acquired in-place leases and other		87			137
		$	247,514		$	146,845

During the year ended December 31, 2019, the Company recorded $159.7 million of identified intangibles assets in connection with the purchase price allocation associated with Acyclica, SeaPilot, Aeryon, Endeavor and New England Optical Systems, Inc. During the year ended December 31, 2018, the Company recorded $6.0 million of identified intangibles assets in connection with the purchase price allocation associated with Fishing Hot Spot and Fishidy. Refer to Note 20, "Business Acquisitions and Divestitures" for further discussion.

During the fourth quarter of fiscal year 2019, the Company recognized an intangible asset impairment charge of $1.2 million. These assets, included in Customer Relationships and Other, were determined not to be recoverable due to a change in their expected future economic benefit associated with the OTS restructuring and strategic shift discussed in Note 9, "Goodwill." The Company recorded the intangible asset impairment charge in "Selling, general and administrative" in the Company's Consolidated Statements of Income.

The aggregate amortization expense recorded in 2019, 2018 and 2017 was $57.5 million, $24.7 million and $27.5 million, respectively. For intangible assets recorded at December 31, 2019, the estimated future aggregate amortization expense for the years ending December 31, 2020 through 2024 is approximately (in thousands):

2020	$	47,647
2021	45,589
2022	43,674
2023	40,481
2024	18,961