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Note 4 - Significant Transactions - Allocation of Preliminary Price (Details) - USD ($)
$ in Thousands
12 Months Ended
Oct. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Goodwill   $ 141,536 $ 66,377 $ 65,543
Payments to Acquire Businesses, Net of Cash Acquired, Total   $ 184,102 $ 4,840 $ 15,518
GPT Acquisition [Member]        
Cash and cash equivalents $ 4,654      
Accounts receivable, net [1] 6,663      
Inventories, net [2] 16,274      
Prepaid income taxes 477      
Prepaid expenses and other 13,649      
Property, plant and equipment, net 645      
Other assets 1,469      
Deferred taxes 10,340      
Goodwill [3] 77,162      
Total Assets acquired 231,235      
Accounts payable 599      
Accrued salaries and payroll taxes 10,735      
Other short-term liabilities 157      
Unearned revenues 2,089      
Other accrued expenses 5,068      
Deferred taxes 25,421      
Other long-term liabilities 965      
Total liabilities assumed 45,034      
Payments to Acquire Businesses, Net of Cash Acquired, Total 181,547      
GPT Acquisition [Member] | Customer Relationships [Member]        
Intangible assets [4] 89,705      
GPT Acquisition [Member] | Trade Names [Member]        
Intangible assets [4] 2,321      
GPT Acquisition [Member] | Noncompete Agreements [Member]        
Intangible assets [4] 156      
GPT Acquisition [Member] | Technology-Based Intangible Assets [Member]        
Intangible assets [4] $ 7,720      
[1] Accounts receivable is composed of trade accounts receivable, net, which is expected to be collected.
[2] Finished goods inventory of GPT includes $11,818 of inventory-step up, which is required to report inventory at fair value at the time of acquisition. These costs are being amortized to cost of products over approximately nine months following the acquisition date, which will result in a temporary reduction in gross profit for the business. During the period from November 1, 2019 until March 31, 2020, we recorded $8,502 of amortization of inventory step-up costs in cost of products on the Consolidated Statements of Operations.
[3] Acquired goodwill is allocated to the Biopharmaceutical Development reportable segment and represents the value expected to arise from organic revenues growth projections that are expected to exceed that of our legacy divisions, and the opportunity to expand into a new market with well-established market share. The goodwill acquired is not deductible for income tax purposes.
[4] Customer relationships and acquired technology are currently expected to be amortized on a straight line basis over a 10 year period; non-compete agreements are currently expected to be amortized over a five year period. The weighted average useful life of intangibles acquired as part of the GPT acquisition is 9.9 years. Amortization expense for customer relationships and non-compete agreements is being amortized to general and administrative expenses; amortization expense for acquired technology is being recorded to cost of products. During the period from November 1, 2019 until March 31, 2020, $3,742 of amortization expense was recorded to general and administrative costs and $314 of amortization expense was recorded to cost of goods sold and allocated to the Biopharmaceutical Development Division. The estimated fair value of identifiable intangible assets was determined primarily using the income approach, which requires a forecast of all the expected future cash flows associated with the identified intangible assets. Once our final valuation is complete, the amount of amortization expense will be trued up and amortization will be based on our final allocation. Trademarks associated with this acquisition are considered indefinite-lived intangibles.