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Goodwill and Intangible Assets | 12 Months Ended
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Mar. 31, 2020
Goodwill and Intangible Assets [Abstract] |
Goodwill and Intangible Assets |
4. | Goodwill and Intangible Assets
Goodwill The following summarizes the change in the Company’s goodwill:
|  | Years Ended March 31, |
|  | 2020 |  |  | 2019 |
Balance at beginning of period |  | $ | 3,205,000 |  |  | $ | 2,551,000 |
Goodwill acquired |  |  | - |  |  |  | 654,000 |
Balance at end of period |  | $ | 3,205,000 |  |  | $ | 3,205,000 |
Intangible Assets The following is a summary of acquired intangible assets subject to amortization:
|  |  |  | March 31, 2020 |  |  | March 31, 2019 |
|  | Weighted Average Amortization Period |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Gross Carrying Value |  |  | Accumulated Amortization |
Intangible assets subject to amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  | 9 years |  | $ | 827,000 |  |  | $ | 435,000 |  |  | $ | 1,007,000 |  |  | $ | 464,000 |
Customer relationships |  | 11 years |  |  | 8,453,000 |  |  |  | 4,376,000 |  |  |  | 8,610,000 |  |  |  | 3,547,000 |
Order backlog |  | 6 months |  |  | - |  |  |  | - |  |  |  | 325,000 |  |  |  | 180,000 |
Developed technology |  | 5 years |  |  | 2,817,000 |  |  |  | 893,000 |  |  |  | 2,991,000 |  |  |  | 311,000 |
Total |  | 9 years |  | $ | 12,097,000 |  |  | $ | 5,704,000 |  |  | $ | 12,933,000 |  |  | $ | 4,502,000 |
During the year ended March 31, 2020, the Company retired $470,000 of fully amortized intangible assets. Amortization expense for acquired intangible assets is as follows:
|  | Years Ended March 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Amortization expense |  | $ | 1,770,000 |  |  | $ | 1,194,000 |  |  | $ | 710,000 |
The estimated future amortization expense for acquired intangible assets subject to amortization is as follows:
Year Ending March 31, |  |  |
2021 |  | $ | 1,479,000 |
2022 |  |  | 1,438,000 |
2023 |  |  | 1,408,000 |
2024 |  |  | 1,040,000 |
2025 |  |  | 471,000 |
Thereafter |  |  | 557,000 |
Total |  | $ | 6,393,000 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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