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Note 5 - Goodwill and Intangible Assets, Net

3 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Text Block]

Note 5. Goodwill and Intangible Assets, Net

Finite-lived intangible assets consist of the following:

	*June 30, 2021*							*March 31, 2021*
	*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*		*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*
Intellectual property	$	21,440	$	(9,053	)	$	12,387	$	21,201	$	(8,595	)	$	12,606
Trade names		8,702		(3,197	)		5,505		8,612		(3,129	)		5,483
Customer relationships		147,504		(55,810	)		91,694		145,754		(52,206	)		93,548
Non-compete agreements		1,299		(1,205	)		94		1,299		(1,195	)		104
Total	$	178,945	$	(69,265	)	$	109,680	$	176,866	$	(65,125	)	$	111,741

Amortization expense for finite-lived intangible assets acquired in a business combination was $3,816 and $3,354 for the quarters ended June 30, 2021 and 2020, respectively. During the quarter ended June 30, 2020, we reduced the value of our intangible assets due to a purchase price adjustment that resulted in a cumulative effect net decrease to amortization expense of $334.

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

Remainder of 2022			11,338
2023			14,920
2024			14,405
2025			12,808
2026			12,017

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

	Sterilization and Disinfection Control		Biopharmaceutical Development		Instruments		Continuous Monitoring		Total
March 31, 2021		30,153	$	93,399		19,186	$	18,103	$	160,841
Effect of foreign currency translation		99		1,774		11		-		1,884
June 30, 2021	$	30,252	$	95,173	$	19,197	$	18,103	$	162,725