GOODWILL, OTHER INTANGIBLE ASSETS AND LONG-LIVED ASSETS

The following table shows changes in goodwill for the fiscal years ended March 31, 2018 and 2019 (in thousands):



Balance as of March 31, 2017	$	19,916
Acquisition of Simplicity	9,642
Impairment charge	(29,558		)
Balance as of March 31, 2018	—
Acquisition of Fitlosophy	1,390
Impairment charge	(1,390		)
Balance as of March 31, 2019	$	—

In connection with the Company's review of the recoverability of its goodwill for fiscal 2018, the Company determined that a triggering event occurred due to the decline in the Company's trading price of its common stock and related decrease in the Company's market capitalization. Given this circumstance, the Company bypassed the option to assess qualitative factors to determine the existence of impairment and proceeded directly to the quantitative goodwill impairment test. Based on the results of its impairment test, the Company recorded an impairment charge of $29,558,000, which was the carrying amount of its goodwill immediately before the charge. The Company determined that no impairment of goodwill existed in fiscal 2017. During the first quarter of fiscal 2019, the Fitlosophy acquisition was accounted for using the acquisition method and the excess of cost over the fair market value of the net tangible and identifiable intangible assets acquired of $1,390,000 was recorded as goodwill. The Company determined that a triggering event occurred due to the fact that the Company’s total stockholders’ equity was in excess of the Company's market capitalization. Given this circumstance, the Company bypassed the option to assess qualitative factors to determine the existence of impairment and proceeded directly to the quantitative goodwill impairment test. Based on the results of its impairment test, the Company recorded an impairment charge of $1,390,000. As of March 31, 2019 and 2018, the Company had no goodwill.

The change in the gross carrying amount of other intangible assets for the years ended March 31, 2018 and 2019 is as follows (in thousands):



	Tradenames and Trademarks			Customer Relationships			Favorable Lease Contracts		Patent		Trademarks
Balance as of March 31, 2017	$	19,953		$	39,757		$	—	$	1,164	$	403
Acquisition of Simplicity	8,200			8,900			3,882		—		—
Impairment charge	(3,800		)	—			—		—		—
Balance as of March 31, 2018	24,353			48,657			3,882		1,164		403
Acquisition of Fitlosophy	—			—			—		—		2,032
Asset Acquisition of Dimensional	—			—			—		302		—
Impairment charge	(9,299		)	(4,620		)	—		—		—
Balance as of March 31, 2019	$	15,054		$	44,037		$	3,882	$	1,466	$	2,435

With the acquisition of Fitlosophy, the Company recorded an intangible asset for trademarks subject to amortization of $2,032,000 that is being amortized over 7 years. The Company also acquired patents of $302,000 in connection with Dimensional Paperworks asset acquisition which are subject to amortization over 15 years. With the acquisition of Simplicity, the Company recorded intangible assets of $8,200,000 for tradenames that are not subject to amortization, $8,900,000 for customer relationships with an estimated life of ten years, and $3,882,000 for favorable lease contracts with a weighted-average amortization period of eight years.

The Company assesses the impairment of long-lived assets, including identifiable intangible assets subject to amortization and property and plant and equipment, whenever events or changes in circumstances indicate the carrying value may not be recoverable. Factors the Company considers important that could trigger an impairment review include significant changes in the use of any assets, changes in historical trends in operating performance, changes in projected operating performance, stock price, loss of a major customer and significant negative economic trends. For fiscal 2019, the current-period operating loss combined with historic operating losses was determined to be a triggering event for its other long-lived assets for impairment for fiscal 2019. The decline in the Company's trading price of its common stock at and around the end of fiscal 2018, and related decrease in the Company's market capitalization, was determined to be a triggering event in connection with the Company's review of the recoverability of its long-lived assets for fiscal 2018. The Company performed a recoverability test during the fourth quarter of fiscal 2019 and 2018 using an undiscounted cash flow approach and determined that the carrying value of property, plant, and equipment, and certain amortizing intangibles are recoverable and not impaired. In connection with the Company’s review of the recoverability of its long-lived assets subject to amortization for fiscal 2017, no circumstances were identified that indicated the carrying value of the assets may not be recoverable and there was no impairment of assets recorded in fiscal 2017.

During the fourth quarter annual impairment test of indefinite lived and amortizing intangible assets performed in fiscal 2019, the Company determined that the carrying values of the C.R. Gibson, McCall's, and Blumenthal tradenames, as well as the C.R. Gibson customer relationships exceeded their fair value. The Company recorded non-cash tradename and customer relationships impairment charges of $9,299,000 and $4,620,000, respectively. During the fourth quarter annual impairment test of indefinite lived intangibles performed in fiscal 2018, the Company determined that the carrying value of the C.R. Gibson tradename exceeded its fair value. The Company recorded a non-cash tradename impairment charge of $3,800,000 related to the C.R. Gibson tradename. The Company determined that no impairment of indefinite-lived intangible assets existed in fiscal 2017.

The gross carrying amount and accumulated amortization of other intangible assets as of March 31, 2019 and 2018 is as follows (in thousands):



	March 31, 2019				March 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Tradenames and trademarks	$	15,054	$	—	$	24,353	$	—
Customer relationships	44,037		23,942		48,657		19,976
Favorable lease contracts	3,882		1,016		3,882		299
Patents	1,466		1,059		1,164		941
Trademarks	2,435		645		403		393
Covenants not to compete	530		457		530		351
	$	67,404	$	27,119	$	78,989	$	21,960

The weighted-average amortization period of customer relationships, favorable lease contracts, patents, trademarks and covenants not to compete are 11 years, 8 years, 11 years, 7 years, and 5 years, respectively.

Amortization expense was $5,159,000 for fiscal 2019, $4,032,000 for fiscal 2018, and $3,304,000 for fiscal 2017. The estimated amortization expense for the next five fiscal years is as follows (in thousands):



Fiscal
2020	$	3,801
2021	3,314
2022	3,218
2023	2,922
2024	2,835