6.	Goodwill and Intangible Assets

Goodwill

Goodwill represents the excess of the cost of an acquired business over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. At June 30, 2018 and March 31, 2018, the Company had goodwill of $178.0 million and $3.2 million, respectively. The increase during the three months ended June 30, 2018 is a result of goodwill recognized in the Exchange.

Intangible Assets

The components of amortizable intangible assets were as follows:


	June 30, 2018									March 31, 2018
(Dollars in thousands)	Customer Relationships			Trade Names			Total			Customer Relationships			Trade Names			Total
Gross carrying amount	$	40,025		$	13,121		$	53,146		$	5,739		$	4,268		$	10,007
Accumulated amortization		(5,789	)		(3,000	)		(8,789	)		(5,610	)		(2,855	)		(8,465	)

Amortizable intangibles, net	$	34,236		$	10,121		$	44,357		$	129		$	1,413		$	1,542

Weighted average amortization period, in years		9.9			9.3			9.8			4.3			5.5			5.4

During the three months ended June 30, 2018, the Company recognized finite-lived intangibles for customer relationships of $34.4 million and trade names of $8.9 million as a result of the allocaton of the preliminary estimated purchase price from the Exchange. The fair value of the customer relationship intangible asset was estimated using the multi-period excess earnings method of the income approach. The final determination of the customer relationship intangible asset will depend on changes to the assumptions used for projected cash flows attributable to the acquired customer relationships, the annual attrition rate of existing customer relationships, the contributory asset charges attributable to the assets that support the customer relationships, such as net working capital, property, plant and equipment, trade name, and workforce, the economic life and the discount rate as determined at the time of the final valuation. The fair value of the trade name intangible asset was estimated using the relief-from-royalty method of the income approach. The final determination of the trade names intangible asset will depend on changes to assumptions used for the expected life of the intangible asset, the royalty rate and the discount rate that reflects the level of risk associated with the future cash flows as determined at the time of the final valuation. During the three months ended June 30, 2018 and July 1, 2017, amortization of intangible assets was $0.5 million and $0.1 million, respectively.