XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.22.4

Goodwill and Other Intangibles Goodwill and Other Intangibles (Tables) | 9 Months Ended
--- | ---
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill [Table Text Block] | The Company's changes in goodwill at December 31, 2022 and 2021 consisted of the following:
(in thousands of dollars) | Nine Months Ended December 31,
| 2022 |  | 2021
Balance at beginning of fiscal year | $ | 213,998 |  |  | $ | 173,051 |
Acquisition of business(1) | — |  |  | 41,061 |
Foreign currency translation adjustment | (117) |  |  | (89) |
Balance at end of period | $ | 213,881 |  |  | $ | 214,023 |
(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 $41.1 million of goodwill. See Note 3 for additional information.
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The Company's intangible assets subject to amortization consisted of the following at December 31, 2022 and 2021 and at March 31, 2022:
(in thousands, except useful life) |  |  |  |  | December 31, 2022 |
| Useful Life (years) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |
Customer relationships | 11 | — | 13 |  | $ | 86,500 |  |  | $ | (15,760) |  |  | $ | 70,740 |  |
Trade names |  | 5 |  |  | 11,100 |  |  | (5,490) |  |  | 5,610 |  |
Developed technology | 3 | — | 13 |  | 9,300 |  |  | (5,233) |  |  | 4,067 |  |
Noncompetition agreements | 4 | — | 5 |  | 4,000 |  |  | (1,537) |  |  | 2,463 |  |
Other |  | 5 |  |  | 707 |  |  | (670) |  |  | 37 |  |
Total intangible assets |  |  |  |  | $ | 111,607 |  |  | $ | (28,690) |  |  | $ | 82,917 |  |
|  |  |  |  | December 31, 2021
| Useful Life (years) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Customer relationships | 11 | — | 13 |  | $ | 86,500 |  |  | $ | (8,030) |  |  | $ | 78,470 |
Trade names |  | 5 |  |  | 11,100 |  |  | (3,270) |  |  | 7,830 |
Developed technology | 3 | — | 13 |  | 9,300 |  |  | (3,286) |  |  | 6,014 |
Noncompetition agreements | 4 | — | 5 |  | 4,000 |  |  | (588) |  |  | 3,412 |
Other |  | 5 |  |  | 751 |  |  | (687) |  |  | 64 |
Total intangible assets |  |  |  |  | $ | 111,651 |  |  | $ | (15,861) |  |  | $ | 95,790 |
|  |  |  |  | March 31, 2022
| Useful Life (years) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Customer relationships | 11 | — | 13 |  | $ | 86,500 |  |  | $ | (9,963) |  |  | $ | 76,537 |
Trade names |  | 5 |  |  | 11,100 |  |  | (3,825) |  |  | 7,275 |
Developed technology | 3 | — | 13 |  | 9,300 |  |  | (3,773) |  |  | 5,527 |
Noncompetition agreements | 4 | — | 5 |  | 4,000 |  |  | (825) |  |  | 3,175 |
Other |  | 5 |  |  | 736 |  |  | (679) |  |  | 57 |
Total intangible assets |  |  |  |  | $ | 111,636 |  |  | $ | (19,065) |  |  | $ | 92,571 |
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 and nine months ended December 31, 2022 and 2021 was:
(in thousands of dollars) | Three Months Ended December 31, |  | Nine Months Ended December 31,
| 2022 |  | 2020 |  | 2022 |  | 2021
Amortization Expense | $ | 3,280 |  |  | $ | 3,207 |  |  | $ | 9,625 |  |  | $ | 8,005 |
Amortization expense for the developed technology intangible asset is recorded in cost of goods sold in the consolidated 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 December 31, 2022, the expected future amortization expense for intangible assets is as follows:
Fiscal Year (in thousands of dollars) |
2023 (excluding the nine months ended December 31, 2022) | $ | 2,832 |
2024 | 11,264 |
2025 | 11,812 |
2026 | 8,452 |
2027 and thereafter | 48,557 |
Total expected future amortization expense | $ | 82,917 |

X
- Definition Tabular disclosure of amortization expense of assets, excluding financial assets, that lack physical substance, having a limited useful life. + References No definition available. + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 55 -Paragraph 24 -URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration