Goodwill and Intangibles

9 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not subject to amortization, but rather is tested for impairment annually or whenever events and circumstances indicate that an impairment may have occurred. The Company has chosen the first day of the last quarter of its fiscal year as the date to perform its annual goodwill impairment test.

The Company has no intangible assets with indefinite useful lives. It does have intangible assets which are amortized. The following table summarizes the changes in the Company’s goodwill and other intangibles for the periods provided below:



			Amortizable Intangibles
	Goodwill (1)		Customer Relationship Intangible			Production and Supply Contract Intangibles			Internally Developed Software Intangible			Total
Weighted average remaining useful life in years as of December 31, 2015			9.25			5.00			—
March 31, 2014 balance
Gross carrying amount	$	2,794	$	33,700		$	14,893		$	17,804		$	69,191
Accumulated amortization	—		(14,954		)	(4,752		)	(14,760		)	(34,466		)
Net March 31, 2014	2,794		18,746			10,141			3,044			34,725
Additions	—		—			—			395			395
Amortization expense	—		(843		)	(333		)	(394		)	(1,570		)
Net September 30, 2014	2,794		17,903			9,808			3,045			33,550
Additions	—		—			—			132			132
Amortization expense	—		(421		)	(317		)	(205		)	(943		)
Net December 31, 2014	2,794		17,482			9,491			2,972			32,739
Additions	—		—			—			171			171
Amortization expense	—		(421		)	(384		)	(214		)	(1,019		)
Net March 31, 2015	2,794		17,061			9,107			2,929			31,891
Amortization expense	—		(842		)	(542		)	(409		)	(1,793		)
Net September 30, 2015	2,794		16,219			8,565			2,520			30,098
Amortization expense	—		(421		)	(237		)	(192		)	(850		)
Net December 31, 2015	$	2,794	$	15,798		$	8,328		$	2,328		$	29,248

(1) Goodwill of $2,794 relates to the North America segment.

The following table summarizes the estimated future intangible asset amortization expense:



For Fiscal Years Ended	Customer Relationship Intangible		Production and Supply Contract Intangible		Internally Developed Software Intangible*		Total
January 1, 2016 through March 31, 2016	$	422	$	1,680	$	676	$	2,778
2017	1,685		1,405		740		3,830
2018	1,685		1,403		512		3,600
2019	1,685		1,397		259		3,341
2020	1,685		1,396		141		3,222
Later	8,636		1,047		—		9,683
	$	15,798	$	8,328	$	2,328	$	26,454

* Estimated amortization expense for the internally developed software is based on costs accumulated as of December 31, 2015. These estimates will change as new costs are incurred and until the software is placed into service in all locations.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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