GOODWILL, OTHER INTANGIBLE ASSETS AND LONG-LIVED ASSETS

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. During the first quarter of fiscal 2019, 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 September 30, 2019, March 31, 2019 and September 30, 2018, the Company had no goodwill.

The change in the carrying amount of goodwill during the six months ended September 30, 2018 is as follows (in thousands):



Balance as of March 31, 2018	$	—
Acquisition of Fitlosophy	1,390
Impairment charge	(1,390		)
Balance as of September 30, 2018	$	—

The gross carrying amount and accumulated amortization of other intangible assets is as follows (in thousands):



	September 30, 2019				March 31, 2019				September 30, 2018
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Tradenames and trademarks	$	15,054	$	—	$	15,054	$	—	$	24,353	$	—
Customer relationships	44,037		25,288		44,037		23,942		48,657		21,968
Favorable lease contracts	—		—		3,882		1,016		3,882		657
Trademarks	2,435		790		2,435		645		2,435		499
Patents	1,466		1,124		1,466		1,059		1,164		999
Covenants not to compete	530		499		530		457		530		404
	$	63,522	$	27,701	$	67,404	$	27,119	$	81,021	$	24,527

Amortization expense related to intangible assets was $797,000 and $1,300,000 for the quarters ended September 30, 2019 and 2018, respectively, and was $1,598,000 and $2,567,000 for the six months ended September 30, 2019 and 2018. Based on the current composition of intangibles, amortization expense for the remainder of fiscal 2020 and each of the succeeding four years is projected to be as follows (in thousands):



Remainder of fiscal 2020	$	1,586
Fiscal 2021	2,997
Fiscal 2022	2,900
Fiscal 2023	2,604
Fiscal 2024	2,518