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Note 6 - Goodwill and Intangible Assets | 12 Months Ended
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Mar. 31, 2023
Notes to Financial Statements |
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. Changes in the carrying amount of goodwill were as follows:
|  | Clinical Genomics |  |  | Sterilization and Disinfection Control |  |  | Biopharmaceutical Development |  |  | Calibration Solutions |  |  | Total |
March 31, 2021 |  | $ | - |  |  | $ | 30,153 |  |  |  | 93,399 |  |  | $ | 37,289 |  |  | $ | 160,841 |
Effect of foreign currency translation |  |  | 34 |  |  |  | (403 | ) |  |  | (5,134 | ) |  |  | (52 | ) |  |  | (5,555 | )
Goodwill related to Agena Acquisition |  |  | 135,880 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 135,880 |
March 31, 2022 |  | $ | 135,914 |  |  | $ | 29,750 |  |  | $ | 88,265 |  |  | $ | 37,237 |  |  |  | 291,166 |
Effect of foreign currency translation |  |  | 49 |  |  |  | (191 | ) |  |  | (7,381 | ) |  |  | (20 | ) |  |  | (7,543 | )
Goodwill related to Belyntic Acquisition |  |  | - |  |  |  | - |  |  |  | 2,973 |  |  |  | - |  |  |  | 2,973 |
Measurement period adjustment - Agena Acquisition |  |  | (152 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (152 | )
March 31, 2023 |  | $ | 135,811 |  |  | $ | 29,559 |  |  | $ | 83,857 |  |  | $ | 37,217 |  |  | $ | 286,444 |
Other intangible assets were as follows:
|  | March 31, 2023 |  |  | March 31, 2022 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | $ | 238,247 |  |  | $ | (86,058 | ) |  | $ | 152,189 |  |  | $ | 244,157 |  |  | $ | (67,469 | ) |  | $ | 176,688 |
Intellectual property |  |  | 65,950 |  |  |  | (19,550 | ) |  |  | 46,400 |  |  |  | 65,893 |  |  |  | (12,620 | ) |  |  | 53,273 |
Other intangibles |  |  | 24,793 |  |  |  | (6,567 | ) |  |  | 18,226 |  |  |  | 25,350 |  |  |  | (5,194 | ) |  |  | 20,156 |
Total |  | $ | 328,990 |  |  | $ | (112,175 | ) |  | $ | 216,815 |  |  | $ | 335,400 |  |  | $ | (85,283 | ) |  | $ | 250,117 |
The range of useful lives and weighted-average remaining useful lives of amortizable intangible assets as of March 31, 2023 were as follows:
|  |  |  |  |  |  | Est. Useful | Weighted Avg.
|  |  |  |  |  |  | Life | Remaining Life
Description |  |  |  |  |  |  | (Years) | (Years)
Customer relationships |  |  |  |  |  |  | 10 - 14 | 8.8
Intellectual property |  |  |  |  |  |  | 8 - 14 | 6.5
Other intangibles |  |  |  |  |  |  | 3 - 12 | 10.4
The following is estimated amortization expense for the years ending March 31:
2024 |  | $ | 28,580 |
2025 |  |  | 26,999 |
2026 |  |  | 26,233 |
2027 |  |  | 25,733 |
2028 |  |  | 25,275 |
Amortization expense for finite-lived intangible assets acquired in a business combination was as follows:
|  | Year Ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Amortization in Cost of revenues |  | $ | 6,796 |  |  | $ | 3,806 |  |  | $ | 1,430 |
Amortization in General and administrative |  |  | 22,025 |  |  |  | 18,000 |  |  |  | 13,083 |
Total |  | $ | 28,821 |  |  | $ | 21,806 |  |  | $ | 14,513 |

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