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Goodwill and Other Intangibles Goodwill and Other Intangibles (Tables)
 3 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
The Company's changes in goodwill at June 30, 2022 and 2021 consisted of the following:
(in thousands of dollars)Three Months Ended June 30,
20222021
Balance at beginning of fiscal year$213,998 $173,051 
Foreign currency translation adjustment
(96)(10)
Balance at end of period$213,902 $173,041 
Schedule of Finite-Lived Intangible Assets [Table Text Block] The Company's intangible assets subject to amortization consisted of the following at June 30, 2022 and 2021 and at March 31, 2022:
(in thousands, except useful life)June 30, 2022
Useful Life (years)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Customer relationships11—13$86,500 $(11,895)$74,605 
Trade names511,100 (4,380)6,720 
Developed technology3—139,300 (4,260)5,040 
Noncompetition agreements4—54,000 (1,063)2,937 
Other5690 (640)50 
Total intangible assets$111,590 $(22,238)$89,352 
June 30, 2021
Useful Life (years)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Customer relationships11—13$62,500 $(4,710)$57,790 
Trade names511,100 (2,160)8,940 
Developed technology34,800 (2,400)2,400 
Noncompetition agreements51,000 (300)700 
Other5777 (702)75 
Total intangible assets$80,177 $(10,272)$69,905 
March 31, 2022
Useful Life (years)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Customer relationships(1)
11—13$86,500 $(9,963)$76,537 
Trade names511,100 (3,825)7,275 
Developed technology(1)
3—139,300 (3,773)5,527 
Noncompetition agreements(1)
4—54,000 (825)3,175 
Other5736 (679)57 
Total intangible assets$111,636 $(19,065)$92,571 
(1)On October 4, 2021, the Company acquired 100% of the capital stock of Shank's for approximately $100 million in cash and $2.4 million of additional working capital on-hand at the date of acquisition. The Shank's acquisition resulted in $31.5 million of intangible assets. See Note 3 for additional information.
Intangible assets are amortized on a straight-line basis over the asset's estimated useful economic life as noted above.
Finite-lived Intangible Assets Amortization Expense [Table Text Block]
The Company's amortization expense for intangible assets for the three months ended June 30, 2022 and 2021 was:
(in thousands of dollars)Three Months Ended June 30,
20222021
Amortization Expense$3,173 $2,403 
Amortization expense for the developed technology intangible asset is recorded in cost of goods sold in the consolidated income statements of income. The amortization expense for other intangible assets is recorded in selling, general, and administrative expenses in the consolidated statements of income.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
As of June 30, 2022, the expected future amortization expense for intangible assets is as follows:
Fiscal Year (in thousands of dollars)
2023 (excluding the three months ended June 30, 2022)
$9,263 
202411,268 
202511,812 
20268,452 
2027 and thereafter48,557 
Total expected future amortization expense$89,352