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Note 5 - Goodwill and Intangible Assets, Net
6 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]

Note 5. Goodwill and Intangible Assets, Net

 

Finite-lived intangible assets consist of the following:

 

  

September 30, 2020

  

March 31, 2020

 
  

Gross Carrying Amount

  

Accumulated Amortization

  

Net Carrying Amount

  

Gross Carrying Amount

  

Accumulated Amortization

  

Net Carrying Amount

 

Intellectual property

 $20,852  $(7,671) $13,181  $15,731  $(6,454) $9,277 

Trade names

  8,477   (2,992)  5,485   5,839   (2,855)  2,984 

Customer relationships

  143,378   (45,464)  97,914   146,106   (38,777)  107,329 

Non-compete agreements

  1,299   (1,176)  123   1,447   (1,166)  281 

Total

 $174,006  $(57,303) $116,703  $169,123  $(49,252) $119,871 

 

Amortization expense for finite-lived intangible assets acquired in a business combination was $3,512 and $6,866 for the three and six months ended September 30, 2020 and $1,658 and $3,330 for the three and six months ended  September 30, 2019, respectively. The increase in the amortization expense was attributable to intangible assets acquired as part of the GPT acquisition, including a cumulative effect true up that we recorded during the three months ended June 30, 2020 as we made adjustments to purchase accounting, see Note 12. "Significant Transactions." 

 

The following is estimated amortization expense for the years ending March 31:

 

2021

 $14,635 

2022

  14,599 

2023

  14,581 

2024

  14,056 

2025

  12,471 

 

The change in the carrying amount of goodwill was as follows:

 

  

Sterilization and Disinfection Control

  

Instruments

  

Biopharmaceutical Development

  

Continuous Monitoring

  

Corporate and Other

  

Total

 

March 31, 2020

 $29,594  $19,123  $74,716  $18,103  $-  $141,536 

Effect of foreign currency translation

  500   60   8,604   -   -   9,164 
Goodwill adjustment related to GPT acquisition  -   -   5,665   -   -   5,665 

September 30, 2020

 $30,094  $19,183  $88,985  $18,103  $-  $156,365