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Note 5 - Goodwill and Intangible Assets, Net

9 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Text Block]

Note 5. Goodwill and Intangible Assets, Net

Finite-lived intangible assets consist of the following:

	*December 31, 2020*							*March 31, 2020*
	*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*		*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*
Intellectual property	$	21,909	$	(8,262	)	$	13,647	$	15,731	$	(6,454	)	$	9,277
Trade names		8,875		(3,060	)		5,815		5,839		(2,855	)		2,984
Customer relationships		151,027		(49,800	)		101,227		146,106		(38,777	)		107,329
Non-compete agreements		1,299		(1,185	)		114		1,447		(1,166	)		281
Total	$	183,110	$	(62,307	)	$	120,803	$	169,123	$	(49,252	)	$	119,871

The increase in the carrying amount of intangible assets was attributable to changes in foreign currency and adjustments to the preliminary purchase price of GPT that are discussed further in Note 12. "Significant Transactions". Amortization expense for finite-lived intangible assets acquired in a business combination was $3,828 and $10,694 for the three and nine months ended December 31, 2020 and $2,565 and $5,895 for the three and nine months ended December 31, 2019, respectively. The increase in amortization expense was attributable to intangible assets acquired as part of the GPT acquisition, including a cumulative effect true up recorded during the three months ended June 30, 2020 as we made adjustments to purchase accounting, see Note 12. "Significant Transactions."

The following is estimated amortization expense for the years ending March 31:

Remainder of year ending March 31, 2021	$	3,891
2022		15,470
2023		15,261
2024		14,746
2025		13,143

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, 2020	$	29,594	$	19,123	$	74,716	$	18,103	$	-	$	141,536
Effect of foreign currency translation		894		106		16,183		-		-		17,183
Goodwill adjustment related to GPT acquisition		-		-		7,065		-		-		7,065
December 31, 2020	$	30,488	$	19,229	$	97,964	$	18,103	$	-	$	165,784