Goodwill and Other Intangible Assets

12 Months Ended

Mar. 31, 2022

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,
	2022		2021
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		51,723
Other	51,572		52,241
Total gross carrying amount	103,295		103,964
Accumulated amortization	(79,061)		(77,473)
Net definite-lived intangible assets	24,234		26,491
Total other intangible assets, net	39,688		41,945
Total	$	53,678	$	55,935

The weighted-average amortization period for definite-lived intangible assets was 15 years for the years ended March 31, 2022, and 2021, respectively. Intangible assets consist primarily of indefinite-lived and definite-lived trademarks, customer 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, 2022, 2021, and 2020, the Company evaluated 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, 2022, and 2021, the gross carrying amount of goodwill is $143,765 and the accumulated impairment losses are $129,775.

The Company did not identify any definite-lived intangible asset impairments during the years ended March 31, 2022, and 2020. 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.

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


	Amounts
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

Amortization expense	(2,248)
Foreign currency translation net loss	(9)
Balance, March 31, 2022	$	39,688

Expected amortization expense for amortizable intangible assets subsequent to March 31, 2022, is as follows:


Years Ending March 31,	Amounts
2023	$	2,220
2024	2,208
2025	2,053
2026	1,551
2027	1,519
Thereafter	14,683
Total	$	24,234