Goodwill and Intangibles |
Goodwill and Intangibles The following summarizes the changes in goodwill and other intangible assets: | | | | | | | | | | | | | | | | | | | | | | Six Months Ended September 30, 2019 | | | | | | | Weighted Average Remaining Useful Life | Beginning Gross Carrying Amount | Additions | Accumulated Amortization (1) | Impact of Foreign Currency Translation | Ending Intangible Assets, Net | Intangibles subject to amortization: | | | | | | | Customer relationships | 9.07 years | $ | 63,980 | | $ | — | | $ | (31,037) | | $ | — | | $ | 32,943 | | Production and supply contracts | 2.50 years | 14,893 | | — | | (11,172) | | — | | 3,721 | | Internally developed software | 3.70 years | 19,917 | | 189 | | (18,660) | | — | | 1,446 | | Licenses (2) | 17.50 years | 32,284 | | 71 | | (2,531) | | 238 | | 30,062 | | Trade names | 6.50 years | 500 | | — | | (94) | | — | | 406 | | Intangibles not subject to amortization: | | | | | | | Goodwill | | 34,336 | | — | | — | | 86 | | 34,422 | | Total | | $ | 165,910 | | $ | 260 | | $ | (63,494) | | $ | 324 | | $ | 103,000 | |
(1) Amortization expense across intangible asset classes for the six months ended September 30, 2019 was $3,701. (2) Certain of the Company's license intangibles are subject to annual renewal.
| | | | | | | | | | | | | | | | | | | | | | Twelve Months Ended March 31, 2019 | | | | | | | Weighted Average Remaining Useful Life | Beginning Gross Carrying Amount | Additions (1) | Accumulated Amortization (2) | Impact of Foreign Currency Translation | Ending Intangible Assets, Net | Intangibles subject to amortization: | | | | | | | Customer relationships | 9.55 years | $ | 58,530 | | $ | 5,450 | | $ | (29,027) | | $ | — | | $ | 34,953 | | Production and supply contracts | 2.93 years | 14,893 | | — | | (10,668) | | — | | 4,225 | | Internally developed software | 3.79 years | 18,812 | | 1,105 | | (18,391) | | — | | 1,526 | | Licenses (3) | 18.08 years | 30,339 | | 2,991 | | (1,644) | | (1,046) | | 30,640 | | Trade names | 7.00 years | — | | 500 | | (63) | | — | | 437 | | Intangibles not subject to amortization: | | | | | | | Goodwill (4) | | 27,546 | | 7,174 | | — | | (384) | | 34,336 | | Total | | $ | 150,120 | | $ | 17,220 | | $ | (59,793) | | $ | (1,430) | | $ | 106,117 | |
(1) Additions to goodwill, customer relationships, and trade names relate to the acquisition of Humble Juice. Additions to licenses relates to Figr East, Figr Norfolk, and Alliance One Specialty Products, LLC. (2) Amortization expense across intangible asset classes for the fiscal year ended March 31, 2019 was $7,943. (3) Certain of the Company's license intangibles are subject to annual renewal. (4) Goodwill activity relates to the Other Products and Services segment.
The following summarizes the estimated future intangible asset amortization expense: | | | | | | | | | | | | | | | | | | | | | For Fiscal Years Ended | Customer Relationships | Production and Supply Contracts | Internally Developed Software* | Licenses | Trade Names | Total | 2020 (excluding the six months ended September 30, 2019 | $ | 2,011 | | $ | 1,712 | | $ | 264 | | $ | 908 | | $ | 31 | | $ | 4,926 | | 2021 | 4,022 | | 1,397 | | 391 | | 1,817 | | 63 | | 7,690 | | 2022 | 4,022 | | 612 | | 318 | | 1,814 | | 63 | | 6,829 | | 2023 | 4,022 | | — | | 286 | | 1,811 | | 63 | | 6,182 | | 2024 | 4,022 | | — | | 168 | | 1,811 | | 63 | | 6,064 | | Thereafter | 14,844 | | — | | 19 | | 21,901 | | 123 | | 36,887 | | | $ | 32,943 | | $ | 3,721 | | $ | 1,446 | | $ | 30,062 | | $ | 406 | | $ | 68,578 | |
*Estimated amortization expense for the internally developed software is based on costs accumulated as of September 30, 2019. These estimates will change as new costs are incurred and until the software is placed into service in all locations.
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