Goodwill and Intangible Assets

12 Months Ended

Apr. 02, 2023

Goodwill and Other Identifiable Intangible Assets

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 28, 2021	$	6,495	$	19,280	$	44,945	$	70,720
Addition due to acquisitions	—		6,681		—		6,681
Balance as of April 3, 2022 and April 2, 2023	$	6,495	$	25,961	$	44,945	$	77,401

The following is a summary of our identifiable intangible assets as of April 2, 2023 and April 3, 2022:


	2023
	Gross Amount		Accumulated Amortization		Net carrying value
(In thousands)
Finite-life intangible assets:
Customer relationships	$	109,107	$	(38,377)	$	70,730
Trademarks and trade names	6,370		(5,267)		1,103
Other finite-life intangible assets	3,904		(3,904)		—
Total finite-life intangible assets	119,381		(47,548)		71,833
Indefinite-life intangible assets	1,227		—		1,227
Total intangible assets, net	$	120,608	$	(47,548)	$	73,060


	2022
	Gross Amount		Accumulated Amortization		Net carrying value
(In thousands)
Finite-life intangible assets:
Customer relationships	$	109,644	$	(32,399)	$	77,245
Trademarks and trade names	6,370		(4,746)		1,624
Other finite-life intangible assets	3,904		(3,807)		97
Total finite-life intangible assets	119,918		(40,952)		78,966
Indefinite-life intangible assets	1,227		—		1,227
Total intangible assets, net	$	121,145	$	(40,952)	$	80,193

Intangible asset amortization expense was $6.9 million during fiscal 2023, $6.5 million during fiscal 2022, and $5.8 million during fiscal 2021.

The estimated future amortization expense for identifiable intangible assets is as follows: