Goodwill and Other Intangibles Goodwill and Other Intangibles (Tables)

9 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

The Company's changes in goodwill at December 31, 2020 and 2019 consisted of the following:

(in thousands of dollars)	Nine Months Ended December 31,
	2020		2019
Balance at beginning of fiscal year	$	126,826	$	97,907
Acquisition of business(1)	53,728		—
Foreign currency translation adjustment	101		62
Balance at end of period	$	180,655	$	97,969

Schedule of Finite-Lived Intangible Assets [Table Text Block]

The Company's intangible assets subject to amortization consisted of the following at December 31, 2020 and 2019:

(in thousands, except useful life)				December 31,
				2020						2019
	Useful Life (years)			Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships(1) (2)	11	—	13	$	62,500	$	(1,935)	$	60,565	$	—	$	—	$	—
Trade names(1) (2)		5		11,100		(1,050)		10,050		—		—		—
Developed technology(1)		3		4,800		(1,600)		3,200		—		—		—
Noncompetition agreements(1)		5		1,000		(200)		800		—		—		—
Other		5		796		(701)		95		774		(701)		73
Total intangible assets				$	80,196	$	(5,486)	$	74,710	$	774	$	(701)	$	73

(1) On January 1, 2020 the Company acquired 100% of the capital stock of FruitSmart for approximately $80.0 million in cash and up to $25.0 million of contingent consideration payments. The FruitSmart acquisition resulted in $28.9 million of goodwill and $18.6 million intangibles. See Note 3 for additional information.

(2) On October 1, 2020 the Company acquired 100% of the capital stock of Silva International, Inc. for approximately $164.0 million in cash and $8.9 million of working capital on-hand at the date of acquisition. The Silva acquisition resulted in $60.8 million of intangibles. See Note 3 for additional information.

Intangible assets are amortized on a straight-line basis over the asset's estimated useful economic life as noted above.

Finite-lived Intangible Assets Amortization Expense [Table Text Block]

The Company's amortization expense for intangible assets for the three and nine months ended December 31, 2020 and 2019:

(in thousands of dollars)	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Amortization Expense	$	2,404	$	9	$	4,021	$	26

Amortization expense for the developed technology intangible asset is recorded in cost of goods sold in the consolidated income statements of income. The amortization expense for the other intangible assets is recorded in selling, general, and administrative expenses in the consolidated income statements of income.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

As of December 31, 2020, the expected future amortization expense for intangible assets is as follows:

Fiscal Year (in thousands of dollars)
2021 (excluding the nine months ended December 31, 2020)	$	2,407
2022	9,611
2023	9,208
2024	7,969
2025 and thereafter	45,515
Total expected future amortization expense	$	74,710