Intangible Assets

12 Months Ended

Mar. 31, 2013

Intangible Assets

Intangible Assets

Note 7 - Intangible Assets

Intangible assets consist of the following:

		March 31, 2013				March 31, 2012
						(Note 4)
		Gross Carrying		Accumulated		Gross Carrying		Accumulated
	Amortizable Lives	Amount		Amortization		Amount		Amortization
		(in thousands)
Amortizable -
Customer relationships	5-20 years*	$	407,835	$	30,959	$	128,071	$	3,868
Lease and other agreements	1-8 years	15,210		7,018		2,810		1,545
Non-compete agreements	2-7 years	11,855		2,871		5,033		919
Trade names	3-10 years	2,784		326		2,700		—
Debt issuance costs	5-10 years	19,494		2,981		7,310		1,842
Total amortizable		457,178		44,155		145,924		8,174
Non-amortizable -
Trade names	Indefinite	29,580		—		11,740		—
Total		$	486,758	$	44,155	$	157,664	$	8,174

*  The weighted-average amortization period for customer relationship intangible assets is approximately 11 years.

Amortization expense was as follows for the periods indicated:

	NGL Energy Partners LP						NGL Supply
	Year		Year		Six Months		Six Months
	Ended		Ended		Ended		Ended
	March 31,		March 31,		March 31,		September 30,
Recorded in	2013		2012		2011		2010
	(in thousands)
Depreciation and amortization	$	29,657	$	4,538	$	593	$	391
Interest expense	3,375		1,277		565		36
Loss on early extinguishment of debt	5,769		—		—		—
Cost of sales - natural gas liquids logistics	5,285		800		400		400
	$	44,086	$	6,615	$	1,558	$	827

Future amortization expense of our intangible assets is estimated to be as follows (in thousands):

Year Ending March 31,
2014	$	44,485
2015	43,137
2016	41,396
2017	39,567
2018	34,234
Thereafter	210,204
	$	413,023