Goodwill and Other Intangibles Goodwill and Other Intangibles (Tables)

12 Months Ended

Mar. 31, 2022

Goodwill and Other Intangibles [Abstract]

Schedule of Goodwill [Table Text Block]

The Company's changes in goodwill at March 31, 2022 and 2021 consisted of the following:

(in thousands)	Fiscal Year Ended March 31,
	2022		2021
Balance at beginning of year	$	173,051	$	126,826
Acquisition of business(1) (2)	41,061		46,144
Foreign currency translation adjustment	(114)		81
Balance at end of year	$	213,998	$	173,051

(1)     On October 4, 2021, the Company acquired 100% of the capital stock of Shank's for approximately $100 million in cash and $2.4 million of additional working capital on-hand at the date of acquisition.. The Shank's acquisition resulted in $41.1 million of goodwill. See Note 2 for additional information.

(2)     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 $46.1 million of goodwill. See Note 2 for additional information.

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

The Company's intangible assets primarily consist of capitalized customer-related intangibles, trade names, proprietary developed technology and noncompetition agreements. The Company's intangible assets subject to amortization consisted of the following at March 31, 2022 and 2021:

(in thousands, except useful life)				Fiscal Year Ended March 31,
				2022						2021
	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	$	86,500	$	(9,963)	$	76,537	$	62,500	$	(3,323)	$	59,177
Trade names(1)(2)		5		11,100		(3,825)		7,275		11,100		(1,605)		9,495
Developed technology(1)		3		9,300		(3,773)		5,527		4,800		(2,000)		2,800
Noncompetition agreements(1)		5		4,000		(825)		3,175		1,000		(250)		750
Other		5		736		(679)		57		760		(678)		82
Total intangible assets				$	111,636	$	(19,065)	$	92,571	$	80,160	$	(7,856)	$	72,304

(1)     The Shank's acquisition resulted in $31.5 million of intangibles. See Note 2 for additional information.

(2)     The Silva acquisition resulted in $60.8 million of intangibles. See Note 2 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 years ended March 31, 2022, 2021, and 2020:

(in thousands)	Fiscal Year Ended March 31,
	2022		2021		2020
Amortization Expense	$	11,209	$	6,460	$	722

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

As of March 31, 2022, the expected future amortization expense for intangible assets is as follows:

Fiscal Year
2023	$	12,494
2024	11,256
2025	11,812
2026	8,452
2027 and thereafter	48,557
Total expected future amortization expense	$	92,571