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Note 4 - Significant Transactions - Allocation of Preliminary Price (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2019
Goodwill, Ending Balance $ 160,841 $ 141,536 $ 66,377
Payments to Acquire Businesses, Net of Cash Acquired, Total 0 $ 184,102 $ 4,840
GPT Acquisition [Member]      
Cash and cash equivalents 4,654    
Accounts receivable [1] 6,663    
Inventories [2] 12,522    
Prepaid income taxes 477    
Prepaid expenses and other 14,149    
Property, plant and equipment 1,523    
Other assets 1,469    
Goodwill, Ending Balance [3] 85,130    
Total Assets acquired 220,487    
Accounts payable 599    
Accrued salaries and payroll taxes 10,735    
Other short-term liabilities 157    
Unearned revenues 2,089    
Other accrued expenses 6,967    
Deferred taxes 12,774    
Other long-term liabilities 965    
Total liabilities assumed 34,286    
Payments to Acquire Businesses, Net of Cash Acquired, Total 181,547    
GPT Acquisition [Member] | Customer Relationships [Member]      
Intangible assets [4] 77,500    
GPT Acquisition [Member] | Trade Names [Member]      
Intangible assets [4] 4,600    
GPT Acquisition [Member] | Noncompete Agreements [Member]      
Intangible assets [4] 0    
GPT Acquisition [Member] | Technology-Based Intangible Assets [Member]      
Intangible assets [4] $ 11,800    
[1] Accounts receivable is composed of trade accounts receivable, which is expected to be collected.
[2] GPT's finished goods inventory includes $8,066 of inventory-step up, which is required to be reported at fair value at the time of acquisition. The inventory step-up was amortized to cost of revenues over approximately eight months following the acquisition date, which resulted in a temporary reduction in gross profit for the business. During the period from November 1, 2019 through March 31, 2020, we recorded $8,502 of amortization of inventory step-up costs in cost of revenues on the Consolidated Statements of Income. The final inventory valuation was completed during the year ended March 31, 2021 and was lower than our preliminary valuation, resulting in a cumulative effect decrease of $436 in amortization of inventory step-up costs.
[3] Acquired goodwill of $85,130, all of which is allocated to the Biopharmaceutical Development reportable segment, represents the value expected to arise from projected organic revenues growth that is expected to exceed that of our legacy divisions, and the value expected to arise from 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 being amortized on a straight-line basis over a 10 year period. Amortization expense for customer relationships is recorded to general and administrative expenses; amortization expense for acquired technology is recorded to cost of revenues. During the year ended March 31, 2021, $7,487 of amortization expense related to the GPT intangible assets was recorded to general and administrative costs, and $1,430 of amortization expense was recorded to cost of goods sold and allocated to the Biopharmaceutical Development division, including the cumulative-effect benefit to amortization expense discussed above. Trademarks associated with this acquisition are considered indefinite-lived intangibles. The estimated fair value of identifiable intangible assets was determined primarily using the income approach, which requires a forecast of all expected future cash flows associated with the identified intangible assets.