| Goodwill and Other Intangible Assets |
5. Goodwill and Other Intangible Assets
Information regarding the Company's other intangible assets are as follows:
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March 31, |
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2011 |
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2010 |
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Gross Amount |
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Accumulated Amortization |
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Net Amount |
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Gross Amount |
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Accumulated Amortization |
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Net Amount |
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Indefinite-lived intangible assets: |
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Trademarks |
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$ |
83,021 |
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$ |
(953 |
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$ |
82,068 |
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$ |
82,598 |
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$ |
(953 |
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$ |
81,645 |
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Finite-lived intangible assets: |
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Customer lists |
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11,064 |
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(1,880 |
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9,184 |
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6,814 |
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(1,416 |
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5,398 |
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Non-compete |
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2,117 |
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(954 |
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1,163 |
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1,890 |
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(708 |
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1,182 |
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Patents |
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3,402 |
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(210 |
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3,192 |
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680 |
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(165 |
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515 |
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Trademarks |
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3,771 |
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(559 |
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3,212 |
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1,853 |
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(465 |
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1,388 |
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Licenses |
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82 |
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(82 |
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— |
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82 |
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(74 |
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8 |
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Total |
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$ |
103,457 |
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$ |
(4,638 |
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$ |
98,819 |
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$ |
93,917 |
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$ |
(3,781 |
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$ |
90,136 |
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The Company's amortization expense, related to finite-lived intangible assets was $876, $706, and $539, for the years ended March 31, 2011, 2010 and 2009, respectively. The expected amortization expense based on the finite-lived intangible assets as of March 31, 2011, is $1,233 in 2012, $1,232 in 2013, $1,225 in 2014, $1,219 in 2015 and $1,187 in 2016.
The changes in the carrying amount of goodwill by business segment are as follows:
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Fiscal year ended March 31, 2011 |
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Europe |
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Americas |
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Asia |
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Total |
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Balance at beginning of year |
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$ |
162,641 |
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$ |
132,915 |
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$ |
21,709 |
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$ |
317,265 |
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Goodwill acquired during the year |
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7,710 |
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7,591 |
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— |
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15,301 |
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Adjustments related to the finalization of purchase accounting |
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24 |
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2,250 |
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— |
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2,274 |
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Foreign currency translation |
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7,506 |
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469 |
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851 |
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8,826 |
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Balance at end of year |
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$ |
177,881 |
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$ |
143,225 |
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$ |
22,560 |
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$ |
343,666 |
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Fiscal year ended March 31, 2010 |
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Europe |
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Americas |
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Asia |
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Total |
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Balance at beginning of year |
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$ |
153,941 |
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$ |
126,117 |
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$ |
21,600 |
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$ |
301,658 |
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Goodwill acquired during the year |
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— |
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5,072 |
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— |
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5,072 |
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Adjustments related to the finalization of purchase accounting |
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— |
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— |
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— |
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— |
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Foreign currency translation |
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8,700 |
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1,726 |
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109 |
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10,535 |
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Balance at end of year |
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$ |
162,641 |
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$ |
132,915 |
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$ |
21,709 |
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$ |
317,265 |
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The Company estimated tax-deductible goodwill to be approximately $14,982 and $17,016 as of March 31, 2011 and 2010, respectively. |