Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill by reportable segment for the years ended March 31, 2020 and 2019 were as follows (amounts in thousands):



	Solid Capacitors		Film and Electrolytic		MSA		Corporate		Total

Balance at March 31, 2018	$	35,584	$	—	$	—	$	4,710	$	40,294
Acquisitions	—		—		—		—		—
Balance at March 31, 2019	35,584		—		—		4,710		40,294
Acquisitions ⁽¹⁾	—		916		—		—		916
Balance at March 31, 2020	$	35,584	$	916	$	—	$	4,710	$	41,210

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⁽¹⁾ During the fiscal year 2020, the Company recorded goodwill of $0.9 million in association with the Novasentis acquisition. Refer to Note 3, “Acquisition” for more details on the Novasentis acquisition.

The following table highlights the Company’s intangible assets (amounts in thousands):



	March 31, 2020							March 31, 2019
	Carrying Amount		Accumulated Amortization			Net Amount		Carrying Amount		Accumulated Amortization			Net Amount
Indefinite Lived Intangible Assets:
Trademarks	$	15,315	$	—		$	15,315	$	15,151	$	—		$	15,151
In-process research and development ⁽¹⁾	3,000		—			3,000		—		—			$	—
Total indefinite lived intangibles	18,315		—			18,315		15,151		—			15,151
Amortizing Intangibles:
Patents and acquired technology (10 - 18 years)	26,662		(13,466		)	13,196		26,662		(12,046		)	14,616
Customer relationships (10 - 21 years)	38,028		(16,826		)	21,202		37,850		(13,868		)	23,982
Other	203		(203		)	—		214		(214		)	—
Total amortizing intangibles	64,893		(30,495		)	34,398		64,726		(26,128		)	38,598
Total intangible assets	$	83,208	$	(30,495	)	$	52,713	$	79,877	$	(26,128	)	$	53,749

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⁽¹⁾ In-process research and development relates to haptic actuator products under development and expected to be commercialized in the future. In-process research and development was capitalized upon the acquisition of Novasentis. Refer to Note 3, “Acquisition” for more details on the Novasentis acquisition.

For fiscal years ended March 31, 2020, 2019, and 2018, amortization related to intangibles was $4.5 million, $4.5 million, and $4.3 million, respectively, consisting of amortization related to patents and acquired technology of $1.4 million each year, and amortization related to customer relationships of $3.1 million, $3.1 million, and $2.9 million, respectively.

The weighted-average useful life as of March 31, 2020 and 2019 for patents and acquired technology was 15.8 years and for customer relationships was 12.2 years. The weighted-average period prior to the next renewal for patents was 1.5 years and 2.5 years as of March 31, 2020 and 2019, respectively. Estimated amortization of intangible assets for each of the next five fiscal years is $4.5 million, and thereafter, amortization will total $11.9 million. Estimated amortization of patents and acquired technology for each of the next five fiscal years is $1.4 million, and thereafter, amortization will total $6.1 million. Estimated amortization of customer relationships for each of the next five fiscal years is $3.1 million, and thereafter, amortization will total $5.8 million.

For fiscal year 2020, the Company completed its impairment analysis on goodwill and intangible assets with indefinite useful lives as of January 1, 2020 and concluded that goodwill and indefinite-lived assets were not impaired.