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Note 5 - Goodwill and Intangible Assets | 12 Months Ended
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Mar. 31, 2018
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 5. Goodwill and Intangible Assets During the year ended March 31, 2018, revenues in our Cold Chain Packaging reporting segment decreased significantly as compared to the prior year primarily due to a significant decrease in revenues from our largest customer. During the three months ended December 31, 2017 we completed a detailed review of the cold chain packaging business and concluded that long and difficult sales-cycles associated with this product set, when coupled with higher than previously contemplated costs for operating and expanding the necessary infrastructure to support revenues growth have resulted in a forecast of lower than expected revenues, gross margin percentages and overall profitability as compared to our original model for this business. Based on these facts, we concluded that we had a triggering event requiring assessment of impairment for certain of our long-lived assets associated with the Cold Chain Packaging reporting segment. As a result, we reviewed the long-lived assets associated with this reporting segment and recorded a $13,819,000 impairment charge related to goodwill, which is included in impairment loss on goodwill on the accompanying consolidated statements of operations for the year ended March 31, 2018. The impairment loss was measured using a market approach utilizing an EBITA multiple model. The remaining goodwill and intangible assets associated with this segment are $1,401,000 and $4,081,000, respectively as of March 31, 2018. The change in the carrying amount of goodwill was as follows (in thousands):
|  | Sterilization and Disinfection Control |  |  | Instruments |  |  | Cold Chain Monitoring |  |  | Cold Chain Packaging |  |  | Total |
March 31, 2016 |  | $ | 20,898 |  |  | $ | 18,235 |  |  | $ | 13,647 |  |  | $ | 13,357 |  |  | $ | 66,137 |
Effect of foreign currency translation |  |  | (97 | ) |  |  | -- |  |  |  | -- |  |  |  | (374 | ) |  |  | (471 | )
Acquisitions |  |  | 3,218 |  |  |  | -- |  |  |  | 1,757 |  |  |  | 1,515 |  |  |  | 6,490 |
March 31, 2017 |  |  | 24,019 |  |  |  | 18,235 |  |  |  | 15,404 |  |  |  | 14,498 |  |  |  | 72,156 |
Effect of foreign currency translation |  |  | 536 |  |  |  | -- |  |  |  | -- |  |  |  | 722 |  |  |  | 1,258 |
Acquisitions |  |  | 5,948 |  |  |  | -- |  |  |  |  |  |  |  | -- |  |  |  | 5,948 |
Impairment |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | (13,819 | ) |  |  | (13,819 | )
March 31, 2018 |  | $ | 30,503 |  |  | $ | 18,235 |  |  | $ | 15,404 |  |  | $ | 1,401 |  |  | $ | 65,543 |
Other intangible assets are as follows:
(In thousands) |  | March 31, 201 8 |
|  | Carrying Amount |  |  | Accumulated Amortization |  |  | Net |  |  | Useful Life (Years) |
Intellectual property |  | $ | 7,210 |  |  | $ | (4,554 | ) |  | $ | 2,656 |  |  | 10 | - | 16 |
Trade names |  |  | 3,675 |  |  |  | (2,154 | ) |  |  | 1,521 |  |  | 3 | - | 10 |
Customer relationships |  |  | 64,363 |  |  |  | (26,128 | ) |  |  | 38,235 |  |  | 7 | - | 10 |
Non-compete agreements |  |  | 1,865 |  |  |  | (1,427 | ) |  |  | 438 |  |  | 3 | - | 10 |
|  | $ | 77,113 |  |  | $ | (34,263 | ) |  | $ | 42,850 |  |  |  |  |  |
|  | March 31, 201 7 |
|  | Carrying Amount |  |  | Accumulated Amortization |  |  | Net |  |  | Useful Life (Years) |
Intellectual property |  | $ | 7,210 |  |  | $ | (3,824 | ) |  | $ | 3,386 |  |  | 10 | - | 16 |
Trade names |  |  | 3,663 |  |  |  | (1,727 | ) |  |  | 1,936 |  |  | 3 | - | 10 |
Customer relationships |  |  | 52,134 |  |  |  | (20,260 | ) |  |  | 31,874 |  |  | 7 | - | 10 |
Non-compete agreements |  |  | 1,845 |  |  |  | (1,251 | ) |  |  | 594 |  |  | 3 | - | 10 |
|  | $ | 64,852 |  |  | $ | (27,062 | ) |  | $ | 37,790 |  |  |  |  |  |
The following is estimated amortization expense for the years ending March 31:
(In thousands) |  |  |  |
2019 |  | $ | 7,249 |
2020 |  |  | 6,915 |
2021 |  |  | 5,870 |
2022 |  |  | 5,869 |
2023 |  |  | 5,235 |
Amortization expense for the years ended March 31, 2018, 2017 and 2016 was $6,929,000, $6,450,000 and $5,787,000, respectively.

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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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