XML 30 R14.htm IDEA: XBRL DOCUMENT

Note 6 - Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Text Block]

Note 6. Goodwill and Intangible Assets

Goodwill arises from the excess purchase price of acquired businesses over the fair value of acquired tangible and intangible assets, less assumed liabilities.

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

	Sterilization and Disinfection Control			Biopharmaceutical Development			Calibration Solutions			Clinical Genomics		Total
March 31, 2020	$	29,594			74,716		$	37,226		$	-	$	141,536
Effect of foreign currency translation		559			10,715			63			-		11,337
Goodwill related to GPT acquisition		-			7,968			-			-		7,968
March 31, 2021	$	30,153		$	93,399		$	37,289		$	-	$	160,841
Effect of foreign currency translation		(403	)		(5,134	)		(52	)		34		(5,555	)
Goodwill related to Agena acquisition		-			-			-			135,880		135,880
March 31, 2022	$	29,750		$	88,265		$	37,237		$	135,914	$	291,166

Other intangible assets were as follows:

	*March 31, 2022*							*March 31, 2021*
	*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*		*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*
Customer relationships	$	244,157	$	(67,469	)	$	176,688	$	145,754	$	(52,206	)	$	93,548
Intellectual property		65,893		(12,620	)		53,273		21,201		(8,595	)		12,606
Other Intangibles		25,350		(5,194	)		20,156		9,911		(4,324	)		5,587
Total	$	335,400	$	(85,283	)	$	250,117	$	176,866	$	(65,125	)	$	111,741

The increase in the goodwill and intangible assets balance from March 31, 2021 to March 31, 2022 is related to the Agena Acquisition, partially offset by changes in foreign currency rates. See Note 4. "Significant Transactions" for more information.

The range of useful lives and weighted-average remaining useful lives of amortizable intangible assets as of March 31, 2022 were as follows:

	*Est. Useful*	*Weighted Avg.*
	*Life*	*Remaining Life*
Description	*(Years)*	*(Years)*
Customer Relationships	5 - 15	8.2
Intellectual Property	5 - 15	7.4
Other Intangibles	5 - 15	11.4

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

2023			29,745
2024			29,229
2025			27,645
2026			26,873
2027			26,364

Amortization expense of intangibles acquired in a business combination for the years ended March 31, 2022, 2021 and 2020 was $21,806, $14,513, and $10,637 respectively.