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Goodwill and Intangible Assets | 12 Months Ended
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Mar. 28, 2020
Goodwill and Intangible Assets [Abstract] |
Goodwill and Intangible Assets | NOTE 5 – GOODWILL AND INTANGIBLE ASSETS A summary of the changes in goodwill during fiscal 2020 and 2019 is as follows:
|  | Dollars in thousands
Balance at March 31, 2018 |  | $ | 522,892
Fiscal 2019 acquisitions |  |  | 42,124
Adjustments to fiscal 2018 purchase accounting |  |  | 487
Balance at March 30, 2019 |  |  | 565,503
Fiscal 2020 acquisitions |  |  | 106,930
Adjustments to fiscal 2019 purchase accounting |  |  | (590)
Balance at March 28, 2020 |  | $ | 671,843
The composition of other intangible assets is as follows:
|  | Year Ended Fiscal March
|  | 2020 |  | 2019
|  | Gross |  |  |  |  | Gross |  |  |
|  | Carrying |  | Accumulated |  | Carrying |  | Accumulated
|  | Amount |  | Amortization |  | Amount |  | Amortization
|  | (Dollars in thousands)
Customer lists |  | $ | 42,511 |  | $ | 26,333 |  | $ | 39,710 |  | $ | 23,258
Favorable leases |  |  | — |  |  | — |  |  | 30,315 |  |  | 11,049
Trade names |  |  | 21,252 |  |  | 12,072 |  |  | 21,252 |  |  | 10,851
Franchise agreements |  |  | 7,220 |  |  | 2,805 |  |  | 7,220 |  |  | 2,259
Other intangible assets |  |  | 590 |  |  | 582 |  |  | 590 |  |  | 563
Total intangible assets |  | $ | 71,573 |  | $ | 41,792 |  | $ | 99,087 |  | $ | 47,980
Monro’s intangible assets are being amortized over their estimated useful lives. The weighted average useful lives of Monro’s intangible assets are approximately 10 years for customer lists, 14 years for trade names, 13 years for franchise agreements and five years for other intangible assets. Amortization of intangible assets, excluding amortization of favorable leases included in rent expense, during fiscal 2020, 2019 and 2018 totaled $4.8 million, $5.3 million and $5.0 million, respectively. Estimated future amortization of intangible assets is as follows:
|  | Customer lists/ |
|  | Trade names/ |
|  | Franchise agreements/ |
Year Ending Fiscal March |  | Other |
|  | (Dollars in thousands) |
2021 |  | $ | 4,101 |
2022 |  |  | 3,779 |
2023 |  |  | 3,523 |
2024 |  |  | 3,163 |
2025 |  |  | 2,806 |

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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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