XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.22.2

Note 6 - Goodwill and Other Intangibles | 3 Months Ended
--- | ---
Jun. 30, 2022
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 6. Goodwill and Other Intangibles Goodwill 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. The Company's goodwill balance relates to the Neeltran Acquisition in fiscal 2021, the NEPSI Acquisition in fiscal 2020, and the acquisition of Infinia Technology Corporation in fiscal 2017 and is reported in the Grid business segment. 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 the Company's Grid business segment goodwill balance:
|  | Goodwill |
March 31, 2021 |  | $ | 34,634 |
Neeltran Acquisition |  |  | 8,837 |
March 31, 2022 |  | $ | 43,471 |
Less impairment loss |  |  | - |
June 30, 2022 |  | $ | 43,471 |
The Company did not identify any triggering events in the three months ended June 30, 2022 that would require interim impairment testing of goodwill. Other Intangibles Intangible assets at June 30, 2022 and March 31, 2022 consisted of the following (in thousands):
|  | June 30, 2022 |  |  | March 31, 2022 |  |  |  |  |
|  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Estimated Useful Life |
Licenses |  | $ | 3,610 |  |  | $ | (3,610 | ) |  |  | — |  |  | $ | 3,610 |  |  | $ | (3,610 | ) |  |  | — |  |  |  | 7 |
Backlog |  | $ | 681 |  |  | $ | (668 | ) |  | $ | 13 |  |  | $ | 681 |  |  | $ | (631 | ) |  | $ | 50 |  |  |  | 2 |
Trade name and trademarks |  |  | 1,800 |  |  |  | — |  |  |  | 1,800 |  |  |  | 1,800 |  |  |  | — |  |  |  | 1,800 |  |  | Indefinite |
Customer relationships |  |  | 9,600 |  |  |  | (3,278 | ) |  |  | 6,322 |  |  |  | 9,600 |  |  |  | (2,723 | ) |  |  | 6,877 |  |  |  | 7 |
Core technology and know-how |  |  | 5,970 |  |  |  | (3,506 | ) |  |  | 2,464 |  |  |  | 5,970 |  |  |  | (3,386 | ) |  |  | 2,584 |  |  |  | 5-10 |
Intangible assets |  | $ | 21,661 |  |  | $ | (11,062 | ) |  | $ | 10,599 |  |  | $ | 21,661 |  |  | $ | (10,350 | ) |  | $ | 11,311 |  |  |  |  |
The Company recorded intangible amortization expense related to customer relationship and core technology and know-how of $0.7 million and $0.6 million, in the three months ended June 30, 2022, and 2021 respectively. Additionally, in the three months ended June 30, 2022 and 2021, the Company recorded less than $0.1 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 |
2023 |  |  | 2,078 |
2024 |  |  | 2,152 |
2025 |  |  | 1,648 |
2026 |  |  | 1,221 |
2027 |  |  | 1,085 |
Thereafter |  |  | 615 |
Total |  | $ | 8,799 |
The Company's intangible assets relate entirely to the Grid business segment operations in the United States.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration