Goodwill and Intangible Assets

12 Months Ended

Apr. 03, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Identifiable Intangible Assets

The changes in the carrying amount of goodwill for each of our three reportable segments were as follows:



(In thousands)	Industrial		Water Treatment		Health and Nutrition		Total
Balance as of March 31, 2014	$	6,495	$	897	$	—	$	7,392
Addition due to acquisition	—		4,358		—		4,358
Balance as of March 29, 2015	6,495		5,255		—		11,750
Addition due to acquisition	—		1,745		84,229		85,974
Balance as of April 4, 2016	$	6,495	$	7,000	$	84,229	$	97,724

As of April 3, 2016, goodwill amounted to $97.7 million, an increase of $86.0 million from the balance at March 29, 2015. The increase in goodwill relates to the Stauber and Davis acquisitions discussed more fully in Note 2.

The following is a summary of our intangible assets as of April 3, 2016 and March 29, 2015:



	2016
	Gross Amount		Accumulated Amortization			Net carrying value
(In thousands)
Finite-life intangible assets:
Customer relationships	$	78,384	$	(3,289	)	$	75,095
Trademarks and trade names	6,045		(1,090		)	4,955
Trade secrets	962		(934		)	28
Carrier relationships	800		(568		)	232
Other finite-life intangible assets	1,886		(489		)	1,397
Total finite-life intangible assets	88,077		(6,370		)	81,707
Indefinite-life intangible assets	1,227		—			1,227
Total intangible assets, net	$	89,304	$	(6,370	)	$	82,934



	2015
	Gross Amount		Accumulated Amortization			Net carrying value
(In thousands)
Finite-life intangible assets:
Customer relationships	$	9,723	$	(1,697	)	$	8,026
Trademarks and trade names	2,034		(667		)	1,367
Trade secrets	962		(896		)	66
Carrier relationships	800		(337		)	463
Other finite-life intangible assets	341		(336		)	5
Total finite-life intangible assets	13,860		(3,933		)	9,927
Indefinite-life intangible assets	1,227		—			1,227
Total intangible assets, net	$	15,087	$	(3,933	)	$	11,154

Intangible asset amortization expense was $2.4 million during fiscal 2016, $0.9 million during fiscal 2015, and $0.7 million during fiscal 2014.

The estimated future amortization expense for identifiable intangible assets during the next five years is as follows:



(In thousands)	2017		2018		2019		2020		2021
Estimated amortization expense	$	6,051	$	5,704	$	5,454	$	5,074	$	5,028

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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