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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
12 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Amortizable Intangible Assets

Amortizable intangible assets are amortized over their estimated economic useful life to reflect the pattern of economic benefits consumed based upon the following lives and methods:

 

Patents

 

10-17 years

 

Straight-line

Licenses

 

7-13 years

 

Straight-line

Customer relationships

 

5-8 years

 

Accelerated based upon the pattern of economic benefits
consumed

Vendor relationships

 

5-8 years

 

Accelerated based upon the pattern of economic benefits
consumed

Developed technology

 

8 years

 

Accelerated based upon the pattern of economic benefits
consumed

Tradename

 

5-10 years

 

Straight-line

Summary of Components and Changes in Other Intangible Assets

The components of, and changes in, the carrying amount of other intangible assets were as follows (dollars in thousands):

 

 

March 31, 2023

 

 

March 31, 2022

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net

 

 

Weighted Average Useful Life

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net

 

Amortized Intangible Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Patents

 

$

2,521

 

 

$

(1,930

)

 

$

591

 

 

 

8.1

 

 

$

2,652

 

 

$

(1,932

)

 

$

720

 

Licenses

 

 

58

 

 

 

(58

)

 

 

 

 

 

 

 

 

58

 

 

 

(58

)

 

 

 

Trade name and trademarks

 

 

464

 

 

 

(73

)

 

 

391

 

 

 

4.3

 

 

 

118

 

 

 

(6

)

 

 

112

 

Customer relationships

 

 

5,509

 

 

 

(3,914

)

 

 

1,595

 

 

 

3.9

 

 

 

4,178

 

 

 

(3,618

)

 

 

560

 

Vendor relationships

 

 

2,600

 

 

 

(183

)

 

 

2,417

 

 

 

6.5

 

 

 

 

 

 

 

 

 

 

Developed technology

 

 

900

 

 

 

(900

)

 

 

 

 

 

 

 

 

900

 

 

 

(900

)

 

 

 

Total Amortized Intangible Assets

 

$

12,052

 

 

$

(7,058

)

 

$

4,994

 

 

 

5.6

 

 

$

7,906

 

 

$

(6,514

)

 

$

1,392

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Indefinite-lived Intangible Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade name and trademarks

 

$

1,010

 

 

$

 

 

$

1,010

 

 

 

 

 

$

1,012

 

 

$

 

 

$

1,012

 

Total Indefinite-lived Intangible Assets

 

$

1,010

 

 

$

 

 

$

1,010

 

 

 

 

 

$

1,012

 

 

$

 

 

$

1,012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Other Intangible Assets

 

$

13,062

 

 

$

(7,058

)

 

$

6,004

 

 

 

 

 

$

8,918

 

 

$

(6,514

)

 

$

2,404

 

Summary of Estimated Amortization Expense

The estimated amortization expense for each of the next five years is shown below (dollars in thousands):

Fiscal 2024

 

$

1,093

 

Fiscal 2025

 

 

1,084

 

Fiscal 2026

 

 

846

 

Fiscal 2027

 

 

588

 

Fiscal 2028

 

 

517

 

Thereafter

 

 

866

 

 

$

4,994

 

 

Amortization expense is set forth in the following table (dollars in thousands):

 

 

Fiscal Year Ended March 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Amortization included in cost of sales:

 

 

 

 

 

 

 

 

 

Patents

 

$

107

 

 

$

183

 

 

$

175

 

Total

 

$

107

 

 

$

183

 

 

$

175

 

Amortization included in operating expenses:

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

296

 

 

$

27

 

 

$

47

 

Vendor relationships

 

 

183

 

 

 

 

 

 

 

Developed technology

 

 

 

 

 

11

 

 

 

68

 

Tradename

 

 

67

 

 

 

6

 

 

 

 

Total

 

 

546

 

 

 

44

 

 

 

115

 

Total amortization of intangible assets

 

$

653

 

 

$

227

 

 

$

290