Intangible Assets, net

9 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

A reconciliation of the activity affecting intangible assets, net is as follows:


(In thousands)	Indefinite- Lived Trademarks		Finite-Lived Trademarks and Customer Relationships		Totals
Gross Carrying Amounts
Balance — March 31, 2024	$	2,167,162	$	411,258	$	2,578,420

Additions (a)	6,850		1,400		8,250


Effects of foreign currency exchange rates	(3,511)		(911)		(4,422)
Balance — December 31, 2024	$	2,170,501	$	411,747	$	2,582,248

Accumulated Amortization
Balance — March 31, 2024	$	—	$	257,837	$	257,837

Additions	—		13,975		13,975

Effects of foreign currency exchange rates	—		(214)		(214)
Balance — December 31, 2024	$	—	$	271,598	$	271,598

Intangible assets, net - December 31, 2024	$	2,170,501	$	140,149	$	2,310,650

(a) Amounts relate to our acquisition of Hydralyte intellectual property on October 1, 2024, giving us rights to the Hydralyte intellectual property in all remaining jurisdictions with the exception of the United States.

Amortization expense was $4.2 million and $14.0 million for the three and nine months ended December 31, 2024, respectively, and $4.9 million and $14.8 million for the three and nine months ended December 31, 2023, respectively.

Finite-lived intangible assets are expected to be amortized over their estimated useful life, which ranges from a period of 10 to 24 years, and the estimated amortization expense for each of the five succeeding years and the periods thereafter is as follows (in thousands):


(In thousands)
Year Ending March 31,	Amount
2025 (remaining three months ended March 31, 2025)	$	4,201
2026	16,213
2027	14,621
2028	12,286
2029	12,286
Thereafter	80,542
	$	140,149

At February 29, 2024, the date of our annual impairment review, the estimated fair value exceeded the carrying value for all intangible assets and, accordingly, no impairment charge was taken. The assumptions subject to significant uncertainties in the impairment analysis include the discount rate utilized in the analysis, as well as future sales, gross margins, and advertising and marketing expenses. The discount rate assumption may be influenced by such factors as changes in interest rates and rates of inflation, which can have an impact on the determination of fair value. Additionally, should the related fair values of intangible assets be adversely affected as a result of declining sales or margins caused by competition, changing consumer needs or preferences, technological advances, changes in advertising and marketing expenses, or supply chain constraints, labor shortages, or inflation, we may be required to record impairment charges in the future. As of December 31, 2024, no events have occurred that would indicate potential impairment of intangible assets.