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Note 6 - Goodwill and Intangible Assets, Net

9 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Text Block]

Note 6. Goodwill and Intangible Assets, Net

Intangible assets, the significant majority of which are finite-lived, consisted of the following:

	*December 31, 2023*							*March 31, 2023*
	*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*		*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*
Customer relationships	$	265,408	$	(102,518	)	$	162,890	$	238,247	$	(86,058	)	$	152,189
Intellectual property		71,169		(25,416	)		45,753		65,950		(19,550	)		46,400
Other intangibles		31,867		(7,736	)		24,131		24,793		(6,567	)		18,226
Total	$	368,444	$	(135,670	)	$	232,774	$	328,990	$	(112,175	)	$	216,815

Amortization expense for finite-lived intangible assets acquired in a business combination was as follows:

	*Three Months Ended December 31,*				*Nine Months Ended December 31,*
	*2023*		*2022*		*2023*		*2022*
Amortization in cost of revenues	$	1,883	$	1,695	$	5,367	$	5,094
Amortization in general and administrative		6,092		5,452		17,013		16,479
Total	$	7,975	$	7,147	$	22,380	$	21,573

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

Remainder of 2024	$	8,389
2025		32,663
2026		31,857
2027		31,200
2028		30,587

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

	*Sterilization and Disinfection Control*		*Clinical Genomics*			*Biopharmaceutical Development*		*Calibration Solutions*		*Total*
March 31, 2023	$	29,559	$	135,811		$	83,857	$	37,217		286,444
Effect of foreign currency translation		2,460		(55	)		2,009		14		4,428
Goodwill related to GKE acquisition		54,470		-			-		-		54,470
Measurement period adjustment, Belyntic Acquisition		-		-			841		-		841
December 31, 2023	$	86,489	$	135,756		$	86,707	$	37,231	$	346,183

Goodwill in the Biopharmaceutical Development division related to the Belyntic acquisition and goodwill in the Sterilization and Disinfection Control division related to the GKE acquisition are expected to be tax deductible.