Goodwill and Other Intangibles Goodwill and Other Intangibles (Tables)

6 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

The Company's changes in goodwill at September 30, 2022 and 2021 consisted of the following:

(in thousands of dollars)	Six Months Ended September 30,
	2022		2021
Balance at beginning of fiscal year	$	213,998	$	173,051
Foreign currency translation adjustment	(195)		(87)
Balance at end of period	$	213,803	$	172,964

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

The Company's intangible assets subject to amortization consisted of the following at September 30, 2022 and 2021 and at March 31, 2022:

(in thousands, except useful life)				September 30, 2022
	Useful Life (years)			Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships	11	—	13	$	86,500	$	(13,828)	$	72,672
Trade names		5		11,100		(4,935)		6,165
Developed technology	3	—	13	9,300		(4,746)		4,554
Noncompetition agreements	4	—	5	4,000		(1,300)		2,700
Other		5		639		(601)		38
Total intangible assets				$	111,539	$	(25,410)	$	86,129

				September 30, 2021
	Useful Life (years)			Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships	11	—	13	$	62,500	$	(6,097)	$	56,403
Trade names		5		11,100		(2,715)		8,385
Developed technology		3		4,800		(2,800)		2,000
Noncompetition agreements		5		1,000		(350)		650
Other		5		764		(692)		72
Total intangible assets				$	80,164	$	(12,654)	$	67,510

				March 31, 2022
	Useful Life (years)			Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships(1)	11	—	13	$	86,500	$	(9,963)	$	76,537
Trade names		5		11,100		(3,825)		7,275
Developed technology(1)	3	—	13	9,300		(3,773)		5,527
Noncompetition agreements(1)	4	—	5	4,000		(825)		3,175
Other		5		736		(679)		57
Total intangible assets				$	111,636	$	(19,065)	$	92,571

(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 $31.5 million of intangible assets. 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 six months ended September 30, 2022 and 2021 was:

(in thousands of dollars)	Three Months Ended September 30,				Six Months Ended September 30,
	2022		2020		2022		2021
Amortization Expense	$	3,172	$	2,853	$	6,345	$	5,256

Amortization expense for the developed technology intangible asset is recorded in cost of goods sold in the consolidated statements of income. The amortization expense for 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 September 30, 2022, the expected future amortization expense for intangible assets is as follows:

Fiscal Year (in thousands of dollars)
2023 (excluding the six months ended September 30, 2022)	$	6,044
2024	11,264
2025	11,812
2026	8,452
2027 and thereafter	48,557
Total expected future amortization expense	$	86,129