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Acquisitions | 12 Months Ended
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Mar. 31, 2020
Business Combinations [Abstract] |
Acquisitions | Acquisitions On February 24, 2020, the Company, through its wholly owned subsidiary, e.l.f. Cosmetics, Inc., completed its acquisition of W3LL People, a Santa Fe, New Mexico-based privately held, clean beauty company with a mission to create premium quality cosmetics without using the potentially harmful artificial chemicals found in most conventional makeup. The purchase price of $25.9 million was in all cash and the total consideration in connection with the acquisition is subject to adjustment based on (i) purchase price adjustment provisions and (ii) indemnification obligations of W3LL People’s stockholders after the closing of the acquisition. The acquisition has been accounted for as a business combination under the acquisition method and, accordingly, the total purchase price is allocated to the tangible and intangible assets acquired and the liabilities assumed based on their respective fair values on the acquisition date. The final purchase price allocation is pending the finalization of deferred tax calculations and residual goodwill. W3LL People's results of operations have been included in the Company's consolidated financial statements from the date of acquisition. The following table presents the purchase price allocation recorded in the Company's consolidated balance sheets on the acquisition date (in thousands):
|  | March 31, 2020
Net tangible assets |  | $ | 2,239 |
Goodwill (1) |  | 14,057 |
Intangible assets |  | 12,340 |
Net deferred tax liability |  | (2,713 | )
Total purchase price consideration |  | $ | 25,923 |
(1) | The goodwill represents the excess value over both tangible and intangible assets acquired and liabilities assumed. The goodwill recognized in this transaction is primarily attributable to expected operational synergies. None of the goodwill is expected to be deductible for tax purposes.
Intangible Assets
|  | Fair Value |  | Estimated Useful Life
|  | (in thousands) |  | (in years)
Customer relationships - retailers |  | $ | 8,800 |  |  | 10
Customer relationships - e-commerce |  | 40 |  |  | 3
Trademarks |  | 3,500 |  |  | 10
Total identified intangible assets |  | $ | 12,340 |  |  |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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