Note

Goodwill and

Long-Lived

Assets

Goodwill arises from the purchase price for acquired businesses exceeding the fair value of tangible and intangible assets acquired, less assumed liabilities. We assess the goodwill of each of our reporting units for impairment at least annually during the

fourth

quarter of our fiscal year and as triggering events occur that indicate that it is more likely than

not

that an impairment exists. We begin by performing the qualitative goodwill assessment, and if the results of that test indicate a possible impairment in any of our reportable units, then we perform a quantitative goodwill impairment test on the reporting unit. When we perform a quantitative impairment test, we estimate the fair value of the reporting unit using the income approach. Under the income approach, fair value is estimated as the present value of estimated future cash flows of each reporting unit. The projected cash flows incorporate various assumptions related to weighted average cost of capital, growth rates specific to the reporting unit, assumptions for net sales growth, and terminal growth rates.

In conjunction with our exit from the Cold Chain Packaging business, we impaired

$296

of remaining goodwill and long-lived assets pertaining to the reporting unit during the year ended

March 31, 2020.

During the year ended

March 31, 2019,

we determined that the long-lived assets and goodwill associated with our Cold Chain Packaging reporting segment were impaired and we recognized a non-cash impairment charge of

$1,075

on goodwill,

$3,378

on long-lived intangible assets, and

$229

on property plant and equipment, which is recorded in impairment loss on goodwill and long-lived assets on the accompanying Consolidated Statements of Operations. The impairment was triggered by the reportable segment having financial results that fell short of expectations due to rising commodity costs of the segment's principal raw materials, which eroded gross margins, as well as the division's largest customer giving notice that it was terminating its contract with us. The goodwill activity related to that business is now presented in Corporate and Other.

The change in the carrying amount of goodwill was as follows:

	Sterilization and Disinfection Control			Instruments			Biopharmaceutical Development			Continuous Monitoring		Corporate and Other			Total
March 31, 2018	$	30,503		$	18,235		$	--		$	15,404	$	1,401		$	65,543
Effect of foreign currency translation		(723	)		--			--			--		(67	)		(790	)
Acquisitions		--			--			--			2,699		--			2,699
Impairment		--			--			--			--		(1,075	)		(1,075	)
March 31, 2019		29,780			18,235			--			18,103		259			66,377
Effect of foreign currency translation		(186	)		(20	)		(2,447	)		--		(1	)		(2,654	)
Acquisitions		--			908			77,162			--		--			78,070
Impairment		--			--			--			--		(258	)		(258	)
March 31, 2020	$	29,594		$	19,123		$	74,716		$	18,103	$	--		$	141,536

Other intangible assets are as follows:

	March 31, 2020							March 31, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intellectual property	$	15,731	$	(6,454	)	$	9,277	$	7,690	$	(5,301	)	$	2,389
Trade names		5,839		(2,855	)		2,984		3,739		(2,542	)		1,197
Customer relationships		146,106		(38,777	)		107,329		61,198		(31,584	)		29,614
Non-compete agreements		1,447		(1,166	)		281		1,581		(1,562	)		19
Total	$	169,123	$	(49,252	)	$	119,871	$	74,208	$	(40,989	)	$	33,219

Trade names initially valued at

$2,321

that were acquired as part of the GPT acquisition are considered to be indefinite-lived and are

not

subject to amortization. The range of useful lives as well as the weighted-average remaining useful lives of amortizable intangible assets as of

March 31, 2020

are as follows:

Description	Estimated Useful Life (Years)		Weighted Average Remaining Life (Years)
Intellectual Property		10 - 15		9.5
Trade Name		5 - 10		4.4
Customer Relationships		5 - 10		9.5
Non-compete Agreements		5 - 10		4.4

The increase in intangible assets during the year ended

March 31, 2019

is related to the acquisitions of IBP and GPT. See Note

"Significant Transactions" for more information.

The following is estimated amortization expense for the years ending

March 31:

2021	$	14,813
2022		14,448
2023		14,240
2024		13,724
2025		12,129

Amortization expense of intangibles acquired in a business combination for the years ended

March 31, 2020

2019

and

2018

was

$10,637,

$7,090,

and

$6,929,

respectively.