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Goodwill and Intangible Assets | 12 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets [Abstract] |
Goodwill and Intangible Assets | 3. Goodwill and Intangible Assets Goodwill The Company had goodwill of $3,205,000 at March 31, 2024 and 2023, which was comprised of $2,551,000 for the Hard Parts segment and $654,000 for all others, respectively. Intangible Assets The following is a summary of acquired intangible assets subject to amortization:
|  |  |  |  | March 31, 2024 |  |  | March 31, 2023 |
|  | Weighted Average Amortization Period |  |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Gross Carrying Value |  |  | Accumulated Amortization |
Intangible assets subject to amortization |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  | 9 years |  |  | $ | 705,000 |  |  | $ | 641,000 |  |  | $ | 705,000 |  |  | $ | 577,000 |
Customer relationships |  | 11 years |  |  |  | 8,573,000 |  |  |  | 7,568,000 |  |  |  | 8,576,000 |  |  |  | 6,947,000 |
Developed technology |  | 5 years |  |  |  | - |  |  |  | - |  |  |  | 2,667,000 |  |  |  | 2,281,000 |
Total |  | 9 years |  |  | $ | 9,278,000 |  |  | $ | 8,209,000 |  |  | $ | 11,948,000 |  |  | $ | 9,805,000 |
During the year ended March 31, 2024, the Company retired $2,667,000 of fully amortized intangible assets. During the year ended March 31, 2023, the Company did not retire any fully amortized intangible assets. Amortization expense for acquired intangible assets is as follows:
|  | Years Ended March 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Amortization expense |  | $ | 1,075,000 |  |  | $ | 1,460,000 |  |  | $ | 1,548,000 |
The estimated future amortization expense for acquired intangible assets subject to amortization is as follows:
Year Ending March 31, |  |  |
2025 |  |  | 486,000 |
2026 |  |  | 341,000 |
2027 |  |  | 242,000 |
Total |  | $ | 1,069,000 |

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- References No definition available. + Details
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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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