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Note 11 - Significant Transaction - Allocation of Preliminary Price (Details) - USD ($) $ in Thousands | Oct. 31, 2019 | Dec. 31, 2019 | Mar. 31, 2019
--- | --- | --- | ---
Goodwill |  |  | $ 189,597 | $ 66,377
GPT Acquisition [Member] |  |  |  |
Cash and cash equivalents |  | $ 4,654 |  |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | [1] | 6,663 |  |
Inventories, net | [2] | 17,414 |  |
Prepaid income taxes |  | 477 |  |
Prepaid expenses and other |  | 13,649 |  |
Property, plant and equipment, net |  | 645 |  |
Goodwill | [3] | 119,130 |  |
Total Assets acquired |  | 219,661 |  |
Accounts payable |  | 599 |  |
Accrued salaries and payroll taxes |  | 10,735 |  |
Other short-term liabilities |  | 157 |  |
Unearned revenues |  | 2,089 |  |
Other accrued expenses |  | 4,564 |  |
Deferred taxes |  | 15,316 |  |
Total liabilities assumed |  | 33,460 |  |
Total closing amount, net of cash acquired |  | 181,547 |  |
GPT Acquisition [Member] | Customer Relationships [Member] |  |  |  |
Intangible assets | [4] | 46,832 |  |
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 $6,663 of trade accounts receivable, net which is due from customers and is expected to be collected.
[2] | Finished goods inventory of GPT includes $12,958 of inventory-step up, which is required to report inventory at fair value at the time of acquisition. These costs will be amortized to cost of revenues over approximately six 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 December 31, 2019, we recorded $5,134 of amortization of inventory step-up costs in cost of revenues on the Condensed Consolidated Statement of Operations.
[3] | Acquired goodwill of $119,130, all of which is allocated to the Biopharmaceutical Development reportable segment, 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, trade names, 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. Amortization expense for customer relationships, trade names and non-compete agreements will be amortized to general and administrative expenses; amortization expense for acquired technology will be recorded to cost of revenues. During the period from November 1, 2019 until December 31, 2019, $794 of amortization expense was recorded to general and administrative costs and $124 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 is 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.

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