Intangible Assets

9 Months Ended

Dec. 31, 2019

5.Intangible Assets

Wireless licenses are considered indefinite-lived intangible assets. Indefinite-lived intangible assets are not subject to amortization but instead are tested for impairment annually, or more frequently if an event indicates that the asset might be impaired. There were no impairment charges related to the Company’s indefinite-lived intangible assets during the three and nine months ended December 31, 2019 and 2018.

During the nine months ended December 31, 2019, the Company entered into an agreement with a third party to acquire wireless licenses for cash consideration of $0.8 million, upon FCC approval.

Intangible assets consist of the following at December 31, 2019 and March 31, 2019 (in thousands):


	Wireless Licenses
Balance at March 31, 2019	$	107,548
Acquisitions		792
Reclassed to property and equipment		(5)
Balance at December 31, 2019	$	108,335