Intangible Assets

3 Months Ended

Jun. 30, 2023

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Our intangible assets consist of the following at the dates indicated:


		June 30, 2023						March 31, 2023
Description	Weighted- Average Remaining Useful Life	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
	(in years)	(in thousands)
Amortizable:
Customer relationships	18.8	$	1,196,468	$	(506,390)	$	690,078	$	1,196,468	$	(492,002)	$	704,466
Customer commitments	21.0	192,000		(30,720)		161,280		192,000		(28,800)		163,200
Pipeline capacity rights	20.4	7,799		(2,492)		5,307		7,799		(2,427)		5,372
Rights-of-way and easements	30.6	95,000		(15,905)		79,095		94,875		(15,138)		79,737
Water rights	16.2	99,869		(27,965)		71,904		99,869		(26,453)		73,416
Executory contracts and other agreements	23.7	21,996		(5,806)		16,190		21,570		(5,037)		16,533
Non-compete agreements	—	—		—		—		1,100		(1,082)		18
Debt issuance costs (1)	2.7	26,001		(11,335)		14,666		25,592		(9,921)		15,671
Total amortizable		1,639,133		(600,613)		1,038,520		1,639,273		(580,860)		1,058,413
Non-amortizable:

Trade names		255				255		255				255
Total		$	1,639,388	$	(600,613)	$	1,038,775	$	1,639,528	$	(580,860)	$	1,058,668

(1) Includes debt issuance costs related to the ABL Facility. Debt issuance costs related to the fixed-rate notes are reported as a reduction of the carrying amount of long-term debt.

Amortization expense is as follows for the periods indicated:


	Three Months Ended June 30,
Recorded In	2023		2022
	(in thousands)
Depreciation and amortization	$	19,335	$	19,609
Cost of sales	65		68
Interest expense	1,414		1,163
Operating expenses	62		62
Total	$	20,876	$	20,902

The following table summarizes expected amortization of our intangible assets at June 30, 2023 (in thousands):


Fiscal Year Ending March 31,
2024 (nine months)	$	56,343
2025	68,838
2026	65,626
2027	60,128
2028	57,275
2029	55,324
Thereafter	674,986
Total	$	1,038,520