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Note 6 - Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2023

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