Goodwill and Other Intangibles

12 Months Ended

Mar. 31, 2012

Goodwill and Other Intangibles [Abstract]

Goodwill and Other Intangibles

8. Goodwill and Other Intangibles

Intangible assets principally consist of goodwill, trademarks and trade names, state insurance licenses, customer relationships, technology, insurance business in force, and insurance policies and renewal rights. Goodwill, trademarks and trade names and state insurance licenses are indefinite-lived intangible assets and are tested for impairment annually and whenever events or circumstances indicate that more likely than not impairment has occurred. During the years ended March 31, 2012 and 2011, no impairment expense was recorded. Finite-lived intangibles are amortized over their estimated useful lives and are reviewed for possible impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. The value of customer relationships is amortized over 4 to 11 years, technology over 7 to 10 years, insurance business in force over one year and insurance policies and renewal rights over 15 years.

Goodwill and other intangibles consist of the following (in thousands):

	March 31, 2012							March 31, 2011
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
Indefinite lived:
Goodwill	$	67,346	$	—		$	67,346	$	67,346	$	—		$	67,346
Trademarks and trade names		6,250		—			6,250		800		—			800
State insurance licenses		1,100		—			1,100		—		—			—
Total indefinite-lived intangible assets		74,696		—			74,696		68,146		—			68,146
Finite lived:
Customer relationships		6,200		(1,246	)		4,954		800		(87	)		713
Insurance business in force		2,070		(1,969	)		101		—		—			—
Technology		900		(87	)		813		—		—			—
Insurance policies and renewal rights		374		(23	)		351		—		—			—
Total goodwill and other intangible assets	$	84,240	$	(3,325	)	$	80,915	$	68,946	$	(87	)	$	68,859

Amortization expense recognized on intangible assets during years ended March 31, 2012 and 2011 was $3.2 million and $53,000, respectively.

Expected amortization for future fiscal years is as follows (in thousands):

Fiscal Year
2013	$	1,481
2014		1,379
2015		1,379
2016		348
2017		254