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Note 6 - Goodwill and Other Intangibles | 9 Months Ended
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Dec. 31, 2020
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 6. Goodwill and Other Intangibles Goodwill The guidance under ASC 805 - 30 provides for the recognition of goodwill on the Acquisition Date measured as the excess of the aggregate consideration transferred over the net of the Acquisition Date amounts of net assets acquired and liabilities assumed. The Company's goodwill balance relates to the Acquisition of NEPSI in the current year and ITC in fiscal 2017 and is reported in the Grid business segment. The fair market value of the contingent consideration included in the total consideration transferred was determined using the Monte Carlo model, and all other consideration transferred was calculated using its observable fair market value. The tangible net assets acquired fair market value was based on observable market fair value. The acquired intangible asset fair value was determined using discounted cash flows under an excess in earnings model or relief in royalty method where appropriate. Goodwill represents the difference between the purchase price and the fair value of the identifiable tangible and intangible net assets when accounted for using the purchase method of accounting. Goodwill is not amortized but reviewed for impairment. Goodwill is reviewed annually and whenever events or changes in circumstances indicate that the carrying value of the goodwill might not be recoverable. The following table provides a roll forward of the changes in our Grid business segment goodwill balance:
|  | Goodwill |
March 31, 2020 |  | $ | 1,719 |
NEPSI Acquisition |  |  | 32,940 |
Less impairment loss |  |  | - |
December 31, 2020 |  | $ | 34,659 |
The Company did not identify any triggering events in the three and nine months ended December 31, 2020 , that would require interim impairment testing of goodwill. Other Intangibles Intangible assets at December 31, 2020 and March 31, 2020 consisted of the following (in thousands):
|  | December 31, 2020 |  |  | March 31, 2020 |  |  |  |  |
|  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Estimated Useful Life |
Backlog |  | $ | 600 |  |  | $ | (285 | ) |  | $ | 315 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  | 2 |
Trade name |  |  | 600 |  |  |  | — |  |  |  | 600 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | Indefinite |
Customer relationships |  |  | 6,100 |  |  |  | (239 | ) |  |  | 5,861 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7 |
Core technology and know-how |  |  | 5,970 |  |  |  | (2,782 | ) |  |  | 3,188 |  |  |  | 5,970 |  |  |  | (2,420 | ) |  |  | 3,550 |  |  |  | 5 - 10 |
Intangible assets |  | $ | 13,270 |  |  | $ | (3,306 | ) |  | $ | 9,964 |  |  | $ | 5,970 |  |  | $ | (2,420 | ) |  | $ | 3,550 |  |  |  |  |
The Company recorded intangible amortization expense related to customer relationship and core technology and know-how of $0.4 million and $0.6 million in the three and nine months ended December 31, 2020 , respectively, and $0.1 and $0.3 million for the three and nine months ended December 31, 2019 , respectively. Additionally, in each of the three and nine months ended December 31, 2020 the Company recorded $0.3 million related to intangible amortization related to backlog that is reported in cost of revenues. Expected future amortization expense related to intangible assets is as follows (in thousands):
Years ended March 31, |  | Total |
2021 |  |  | 826 |
2022 |  |  | 2,115 |
2023 |  |  | 1,808 |
2024 |  |  | 1,393 |
2025 |  |  | 1,077 |
Thereafter |  |  | 2,145 |
Total |  | $ | 9,364 |
The Company's intangible assets relate entirely to the Grid business segment operations in the United States.

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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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