Goodwill and Other Intangible Assets

12 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The Company’s goodwill and other intangible assets are recorded in the consolidated balance sheets, as follows:


	As of March 31,
	2021		2020
Goodwill
UGG brand	$	6,101	$	6,101
HOKA brand	7,889		7,889
Total goodwill	13,990		13,990
Other intangible assets
Indefinite-lived intangible assets
Trademarks	15,454		15,454
Definite-lived intangible assets
Trademarks	51,723		55,245
Other	52,241		51,738
Total gross carrying amount	103,964		106,983
Accumulated amortization	(77,473)		(74,421)
Net definite-lived intangible assets	26,491		32,562
Total other intangible assets, net	41,945		48,016
Total	$	55,935	$	62,006

The weighted-average amortization period for definite-lived intangible assets was 15 and 16 years for the years ended March 31, 2021 and 2020, respectively. Intangible assets consist primarily of indefinite-lived trademarks and definite-lived trademarks, wholesale customer and distributor relationships, patents, lease rights, and non-compete agreements arising from the application of purchase accounting. Goodwill is allocated to the wholesale reportable operating segments of the brands described above.

Annual Impairment Assessment. During the years ended March 31, 2021, 2020, and 2019, the Company evaluated the goodwill for impairment at the reporting unit level for the UGG and HOKA brands wholesale reportable operating segment as of December 31st and evaluated its Teva indefinite-lived trademarks as of October 31st, and based on the evaluation performed, no impairment loss was recorded for the goodwill and indefinite-lived intangible assets. As of March 31, 2021 and 2020, the gross carrying amount of goodwill was $143,765 and the accumulated impairment losses were $129,775.

During the year ended March 31, 2021, the Company recorded an impairment loss of $3,522 for the Sanuk brand definite-lived international trademark, driven by the strategic decision to focus primarily on future domestic growth, within our Sanuk brand wholesale reportable operating segment in SG&A expenses in the consolidated statements of comprehensive income. The Company did not identify any definite-lived intangible asset impairments during the years ended March 31, 2020 and 2019.

Amortization Expense. A reconciliation of the changes in total other intangible assets in the consolidated balance sheets, are as follows:


	Amounts
Balance, March 31, 2018	$	57,850

Amortization expense	(6,235)
Foreign currency translation net loss	(121)
Balance, March 31, 2019	51,494

Amortization expense	(3,470)
Foreign currency translation net loss	(8)
Balance, March 31, 2020	48,016
Impairment charges	(3,522)
Amortization expense	(2,565)
Foreign currency translation net gain	16
Balance, March 31, 2021	$	41,945

Expected amortization expense for amortizable intangible assets subsequent to March 31, 2021 is as follows:


Years Ending March 31,	Amounts
2022	$	2,244
2023	2,228
2024	2,208
2025	2,053
2026	1,899
Thereafter	15,859
Total	$	26,491