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Goodwill and Intangible Assets
 9 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

8. Goodwill and Intangible Assets

 

Goodwill

 

Goodwill balances, by segment, consist of the following:

 

   Aerospace/Defense   Industrial   Total 
April 2, 2022  $              194,124   $1,707,980   $1,902,104 
Acquisition (1)    
—
    (28,710)   (28,710)
Translation adjustments   
—
    (4,156)   (4,156)
December 31, 2022  $194,124   $1,675,114   $1,869,238 

 

(1)Purchase accounting adjustments to goodwill associated with the acquisition of Dodge discussed further in Note 13.

 

Intangible Assets

 

   Weighted  December 31, 2022   April 2, 2022 
   Average
Useful
Lives (Years)		  Gross
Carrying
Amount		   Accumulated
Amortization		   Gross
Carrying Amount		   Accumulated
Amortization		 
Product approvals  24  $50,878   $18,125   $50,878   $16,680 
Customer relationships and lists  24   1,293,592    92,923    1,294,577    53,376 
Trade names  25   216,341    21,945    216,340    15,073 
Distributor agreements 
—
   
—
    
—
    722    722 
Patents and trademarks  16   13,131    7,018    12,342    6,607 
Domain names  10   437    437    437    437 
Other  4   14,715    4,254    9,720    4,887 
       1,589,094    144,702    1,585,016    97,782 
Non-amortizable repair station certifications  n/a   24,281    —    24,281    — 
Total  24  $1,613,375   $144,702   $1,609,297   $97,782 

 

Amortization expense for definite-lived intangible assets during the three-month periods ended December 31, 2022 and January 1, 2022 was $17,400 and $12,133, respectively. Amortization expense for definite-lived intangible assets during the nine-month periods ended December 31, 2022 and January 1, 2022 was $51,459 and $17,542, respectively. These amounts are included in other, net on the Company’s consolidated statements of operations. Estimated amortization expense for the remainder of fiscal 2023 and the five succeeding fiscal years and thereafter is as follows:

 

Remainder of Fiscal 2023  $17,385 
Fiscal 2024   69,270 
Fiscal 2025   69,204 
Fiscal 2026   67,248 
Fiscal 2027   66,185 
Fiscal 2028   64,259 
Fiscal 2029 and thereafter   1,090,841