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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS The Company’s goodwill and other intangible assets are recorded in the consolidated balance sheets as follows:
| As of March 31,
| 2024 |  | 2023
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 |
| As of March 31,
| 2024 |  | 2023
Definite-lived intangible assets |  |  |
Trademarks | 51,723 |  |  | 51,723 |
Other | 51,220 |  |  | 51,313 |
Total gross carrying amount | 102,943 |  |  | 103,036 |
Accumulated amortization and impairments | (91,314) |  |  | (81,033) |
Net definite-lived intangible assets | 11,629 |  |  | 22,003 |
Total other intangible assets, net | 27,083 |  |  | 37,457 |
Total | $ | 41,073 |  |  | $ | 51,447 |
The weighted-average amortization period for definite-lived intangible assets was 15 years for the years ended March 31, 2024, and 2023. 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, 2024, 2023, and 2022, the Company evaluated goodwill for impairment at the reporting unit level for the UGG and HOKA brands wholesale reportable operating segments as of December 31st and evaluated the Teva indefinite-lived trademarks as of October 31st. Based on the evaluation of qualitative and quantitative factors, including the asset carrying amounts recorded in the consolidated balance sheets against each of the brands’ actual results of operations and long-term forecasts of net sales and operating income, no impairment loss was recorded for goodwill and indefinite-lived intangible assets. As of March 31, 2024, and 2023, the gross carrying amount of goodwill is $143,765 and the accumulated impairment losses are $129,775. During the fourth fiscal quarter for the year ended March 31, 2024, the Company recorded an impairment loss of $8,164 in SG&A expenses in the consolidated statements of comprehensive income for the Sanuk brand definite-lived trademark, driven by lower-than-expected results of operations for the wholesale channel that resulted in the carrying value exceeding the estimated fair value, which was determined based on an estimate of the future discounted cash flows. The Company did not identify any definite-lived intangible asset triggering events during the years ended March 31, 2023, and 2022. Other Intangible Assets, net. A reconciliation of the changes in total other intangible assets, net, recorded in the consolidated balance sheets is as follows:
| Years Ended March 31,
| 2024 |  | 2023 |  | 2022
Beginning balance | $ | 37,457 |  |  | $ | 39,688 |  |  | $ | 41,945 |
Impairment charges | (8,164) |  |  | — |  |  | — |
Amortization expense | (2,208) |  |  | (2,228) |  |  | (2,248) |
Foreign currency translation net loss | (2) |  |  | (3) |  |  | (9) |
Ending balance | $ | 27,083 |  |  | $ | 37,457 |  |  | $ | 39,688 |
Expected amortization expense for definite-lived intangible assets subsequent to March 31, 2024, is as follows:
Years Ending March 31, |  | Amounts
2025 |  | $ | 1,402 |
2026 |  | 911 |
2027 |  | 879 |
2028 |  | 879 |
2029 |  | 879 |
Thereafter |  | 6,679 |
Total |  | $ | 11,629 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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