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Intangibles and Goodwill

3 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles and Goodwill

Intangibles and Goodwill

Intangible assets primarily consist of certain management contracts providing economic rights to management and advisory fees, as obtained through the Company’s acquisitions of other businesses.

Intangible assets, net consists of the following:

			As of
			June 30, 2021						March 31, 2021
Management contracts			$	41,058					$	41,058
Less: Accumulated amortization			(36,188)						(35,567)
Intangible assets, net			$	4,870					$	5,491

Amortization expense related to intangible assets was $0.6 million and $0.8 million for the three months ended June 30, 2021 and 2020, respectively. These amounts are included in general, administrative and other expenses in the condensed consolidated statements of income.

At June 30, 2021, the expected future amortization of finite-lived intangible assets is as follows:

Remainder of FY2022			$	1,860
FY2023			1,768
FY2024			932
FY2025			242
FY2026			51
Thereafter			17
Total			$	4,870

The carrying value of goodwill was $6.8 million as of June 30, 2021 and March 31, 2021. The Company determined there was no indication of goodwill impairment as of June 30, 2021 and March 31, 2021.

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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