2. BALANCE SHEET ITEMS

Inventories

The components of inventories, net of applicable lower of cost or market write-downs, were as follows:

	As of		As of
	December 31, 2013		March 31, 2013
	(In thousands)
Raw materials	$	2,567,982	$	1,683,098
Work-in-progress	642,064		421,706
Finished goods	762,081		617,696
	$	3,972,127	$	2,722,500

Goodwill and Other Intangibles

The following table summarizes the activity in the Company’s goodwill account during the nine-month period ended December 31, 2013:

	Amount
	(In thousands)
Balance, beginning of the year	$	262,005
Additions (1)	26,384
Purchase accounting adjustments (2)	4,034
Foreign currency translation adjustments	429
Balance, end of the period	$	292,852

(1) The goodwill generated from the Company’s business combinations completed during the nine-month period ended December 31, 2013 is primarily related to value placed on the employee workforce, service offerings and capabilities and expected synergies. The goodwill is not deductible for income tax purposes. See note 13 to the condensed consolidated financial statements for additional information.

(2) Includes adjustments based on management’s estimates resulting from review and finalization of the valuation of assets and liabilities acquired through certain business combinations completed in a period subsequent to the respective acquisition. These adjustments and acquisitions were not individually, nor in the aggregate, significant to the Company.

The components of acquired intangible assets are as follows:

	As of December 31, 2013							As of March 31, 2013
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
	(In thousands)
Intangible assets:
Customer-related intangibles	$	200,920	$	(134,612	)	$	66,308	$	294,310	$	(224,517	)	$	69,793
Licenses and other intangibles	34,166		(11,495		)	22,671		21,040		(9,286		)	11,754
Total	$	235,086	$	(146,107	)	$	88,979	$	315,350	$	(233,803	)	$	81,547

The gross carrying amounts of intangible assets are removed when the recorded amounts have been fully amortized. During the three-month period ended December 31, 2013, the value of customer-related intangible assets and licenses and other intangible assets increased by $12.9 million and $7.6 million, respectively, as a result of our acquisition of Riwisa AG. The purchase price allocation is preliminary and is subject to change as the Company continues to evaluate the value of assets and liabilities relating to this acquisition. Refer to note 13 to the condensed consolidated financial statements for further discussion of the Riwisa AG acquisition. During the nine-month period ended December 31, 2013, certain customer relationship intangibles were fully amortized, offset by the increase in intangible assets in connection with the aforementioned acquisition. The estimated future annual amortization expense for intangible assets is as follows:

Fiscal Year Ending March 31,	Amount
	(In thousands)
2014 (1)	$	6,951
2015	25,968
2016	20,969
2017	13,661
2018	8,605
Thereafter	12,825
Total amortization expense	$	88,979

(1) Represents estimated amortization for the remaining three-month period ending March 31, 2014.

Other Current Liabilities

Other current liabilities include customer working capital advances of $934.8 million and $214.1 million as of December 31, 2013 and March 31, 2013, respectively. These amounts are not interest bearing, do not have fixed repayment dates and are generally reduced as the underlying working capital is consumed in production.