Goodwill and Other Intangibles Goodwill and Other Intangibles (Tables)

3 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The Company's changes in goodwill at June 30, 2021 and 2020 consisted of the following:


(in thousands of dollars)	Three Months Ended June 30,
	2021		2020
Balance at beginning of fiscal year	$	173,051	$	126,826

Foreign currency translation adjustment	(10)		36

Balance at end of period	$	173,041	$	126,862

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

The Company's intangible assets subject to amortization consisted of the following at June 30, 2021 and 2020:


(in thousands, except useful life)				June 30,
				2021						2020
	Useful Life (years)			Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships(1)	11	—	13	$	62,500	$	(4,710)	$	57,790	$	9,500	$	(365)	$	9,135
Trade names(1)		5		11,100		(2,160)		8,940		3,300		(330)		2,970
Developed technology(1)		3		4,800		(2,400)		2,400		4,800		(800)		4,000
Noncompetition agreements(1)		5		1,000		(300)		700		1,000		(100)		900
Other		5		777		(703)		74		734		(625)		109
Total intangible assets				$	80,177	$	(10,273)	$	69,904	$	19,334	$	(2,220)	$	17,114

(1) On October 1, 2020 the Company acquired 100% of the capital stock of Silva for approximately $164.0 million in cash and $5.9 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 months ended June 30, 2021 and 2020 was:


(in thousands of dollars)	Three Months Ended June 30,
	2021		2020
Amortization Expense	$	2,403	$	808

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 statements of income.

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

As of June 30, 2021, the expected future amortization expense for intangible assets is as follows:


Fiscal Year (in thousands of dollars)
2022 (excluding the three months ended June 30, 2021)	$	7,216
2023	9,204
2024	7,969
2025	8,534
2026 and thereafter	36,981
Total expected future amortization expense	$	69,904