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Goodwill and Intangible Assets
 9 Months Ended
Dec. 31, 2011
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets

 

Goodwill represents the excess of the purchase price over the fair value of net assets acquired. Goodwill is tested for possible impairment at least annually.  We perform our tests as of March 31, the last day of our fourth fiscal quarter, unless an event occurs that would cause us to believe the value is impaired at an interim date. 

 

The following table presents certain information regarding our intangible assets at December 31, 2011:

  Estimated     Carrying     Accumulated         
  Useful Lives     Value     Amortization     Net   
Customer contracts     15 years     $ 122,000     $ (26,772 )   $ 95,228  

 

Intangible assets are being amortized on a straight-line basis over their estimated useful lives. For the three and nine months ended December 31, 2011, amortization expense was $2,033 and $6,100, respectively. Assuming no changes in our intangible assets, estimated amortization expense for the remainder of the current fiscal year ending March 31, 2012 will be $2,033 and will be $8,133 in each of the four succeeding fiscal years.

 

We assess the recoverability of the carrying value of the identifiable intangible assets with finite useful lives, whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.