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Goodwill and Intangible Assets | 6 Months Ended
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Sep. 29, 2018
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets |
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 September 29, 2018 and March 31, 2018, the Company had goodwill of $177.5 million and $3.2 million, respectively. The increase during the six months ended September 29, 2018 was a result of goodwill recognized in the Exchange. Intangible Assets The components of amortizable intangible assets were as follows:
(Dollars in thousands) |  | September 29, 2018 |  |  | March 31, 2018 |
|  | Customer Relationships |  |  | Trade Names |  |  | Total |  |  | Customer Relationships |  |  | Trade Names |  |  | Total |
|  | (unaudited) |  |  |  |  |  |  |  |  |  |  |  |  |
Gross carrying amount |  | $ | 40,118 |  |  | $ | 13,158 |  |  | $ | 53,276 |  |  | $ | 5,739 |  |  | $ | 4,268 |  |  | $ | 10,007 |
Accumulated amortization |  |  | (6,749 | ) |  |  | (3,369 | ) |  |  | (10,118 | ) |  |  | (5,610 | ) |  |  | (2,855 | ) |  |  | (8,465 | )
Amortizable intangibles, net |  | $ | 33,369 |  |  | $ | 9,789 |  |  | $ | 43,158 |  |  | $ | 129 |  |  | $ | 1,413 |  |  | $ | 1,542 |
Weighted average amortization period, in years |  |  | 9.7 |  |  |  | 9.1 |  |  |  | 9.5 |  |  |  | 4.3 |  |  |  | 5.5 |  |  |  | 5.4 |
During the six months ended September 29, 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 allocation 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. Amortization of intangible assets for the three and six months ended September 29, 2018 was $1.2 million and $1.7 million, respectively, and for the three and six months ended September 30, 2017 was $0.1 million and $0.2 million, respectively.

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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 + Details
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