Goodwill and Other Intangible Assets

9 Months Ended

Jan. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

Information regarding the Company’s other intangible assets are as follows:


	Balance as of
	January 2, 2022						March 31, 2021
	Gross Amount		Accumulated Amortization		Net Amount		Gross Amount		Accumulated Amortization		Net Amount
Indefinite-lived intangible assets:
Trademarks	$	147,990	$	(953)	$	147,037	$	148,164	$	(953)	$	147,211
Finite-lived intangible assets:
Customer relationships	298,107		(104,266)		193,841		298,576		(87,308)		211,268
Non-compete	2,825		(2,825)		—		2,825		(2,825)		—
Technology	97,288		(36,446)		60,842		97,349		(29,561)		67,788
Trademarks	8,012		(4,604)		3,408		8,012		(3,381)		4,631
Licenses	1,196		(1,196)		—		1,196		(1,196)		—
Total	$	555,418	$	(150,290)	$	405,128	$	556,122	$	(125,224)	$	430,898

The Company’s amortization expense related to finite-lived intangible assets was $8,318 and $25,066 for the third quarter and nine months of fiscal 2022, compared to $8,334 and $25,076 for the third quarter and nine months of fiscal 2021. The expected amortization expense based on the finite-lived intangible assets as of January 2, 2022, is $7,558 for the remainder of fiscal 2022, $30,399 in fiscal 2023, $27,544 in fiscal 2024, $26,552 in fiscal 2025 and $25,618 in fiscal 2026.

Goodwill

The following table presents the amount of goodwill, as well as any changes in the carrying amount of goodwill by segment during the nine months of fiscal 2022:


	Energy Systems		Motive Power		Specialty		Total
Balance at March 31, 2021	$	279,676	$	327,055	$	98,862	$	705,593

Foreign currency translation adjustment	(2,428)		(1,882)		(457)		(4,767)
Balance as of January 2, 2022	$	277,248	$	325,173	$	98,405	$	700,826