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Note 6 - Goodwill and Intangible Assets, Net

12 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Text Block]

Note 6. Goodwill and Intangible Assets, Net

Goodwill

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:

	*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		1,021			(130	)		(32	)		(6	)		853
Impairment losses		-			(118,741	)		(38,151	)		-			(156,892	)
Goodwill related to GKE acquisition		48,850			-			-			-			48,850
Measurement period adjustment, Belyntic acquisition		-			-			841			-			841
March 31, 2024	$	79,430		$	16,940		$	46,515		$	37,211		$	180,096
Effect of foreign currency translation		(22	)		(12	)		1,696			2			1,664
March 31, 2025	$	79,408		$	16,928		$	48,211		$	37,213		$	181,760

Finite-Lived Intangible Assets

Intangible assets other than goodwill were as follows:

	*March 31, 2025*							*March 31, 2024*
	*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*		*Gross Carrying Amount*		*Accumulated Amortization*			*Net Carrying Amount*
Customer relationships	$	190,069	$	(117,189	)	$	72,880	$	189,911	$	(104,528	)	$	85,383
Other intangibles		61,192		(37,197	)		23,995		61,161		(32,792	)		28,369
Total finite-lived intangible assets	$	251,261	$	(154,386	)	$	96,875	$	251,072	$	(137,320	)	$	113,752

Amortization expense for finite-lived intangible assets was as follows:

	*Year Ended March 31,*
	*2025*		*2024*		*2023*
Amortization in cost of revenues	$	2,641	$	6,052	$	6,796
Amortization in general and administrative		16,504		21,289		22,025
Total	$	19,145	$	27,341	$	28,821

Fiscal year 2024 goodwill impairment losses recorded in our Clinical Genomics and Biopharmaceutical Development divisions totaling $156,892 and impairments of other intangible assets in our Clinical Genomics division totaling $117,641 were primarily the result of higher weighted average cost of capital, which decreases the fair value of businesses, as well as downward revisions of expected future performance in fiscal year 2024.

The range of useful lives and weighted-average remaining useful lives of amortizable intangible assets as of March 31, 2025 were as follows:

	*Approx. Est. Useful*	*Weighted Avg.*
	*Life*	*Remaining Life*
Description	*(Years)*	*(Years)*
Customer Relationships	5 - 12	7.2
Other Intangibles	2 - 12	5.8

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

Fiscal Year	*Amortization Expense*
2026	$	17,086
2027		16,429
2028		15,836
2029		15,307
2030		10,809