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Note 5 - Goodwill and Intangible Assets, Net

6 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Text Block]

Note 5. Goodwill and Intangible Assets, Net

Finite-lived intangible assets consist of the following:

	*September 30, 2021*							*March 31, 2021*
	*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*		*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*
Intellectual property	$	21,094	$	(9,409	)	$	11,685	$	21,201	$	(8,595	)	$	12,606
Trade names		8,574		(3,265	)		5,309		8,612		(3,129	)		5,483
Customer relationships		144,869		(58,459	)		86,410		145,754		(52,206	)		93,548
Non-compete agreements		1,299		(1,215	)		84		1,299		(1,195	)		104
Total	$	175,836	$	(72,348	)	$	103,488	$	176,866	$	(65,125	)	$	111,741

Amortization expense for finite-lived intangible assets acquired in a business combination was $3,757 and $7,573 for the three and six months ended September 30, 2021, respectively, and $3,512 and $6,866 for the three and six months ended September 30, 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.

For the following fiscal years ending March 31, amortization expense is estimated as follows:

Remainder of 2022			7,398
2023			14,622
2024			14,107
2025			12,515
2026			11,731

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		(100	)		(752	)		(12	)		-		(864	)
September 30, 2021	$	30,053		$	92,647		$	19,174		$	18,103	$	159,977