XML 45 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
Goodwill and Intangibles
9 Months Ended
Dec. 31, 2012
Goodwill and Intangibles [Abstract]  
GOODWILL AND INTANGIBLES

(7) GOODWILL AND INTANGIBLES

The Company performs an annual impairment test of the carrying amount of goodwill and indefinite-lived intangible assets in the fourth quarter of its fiscal year. Additionally, the Company would perform its impairment testing at an interim date if events or circumstances indicate that goodwill or intangibles might be impaired. In connection with the sale of the Halloween portion of PMG’s business on September 5, 2012, a portion of the goodwill associated with the PMG reporting unit was allocated to the business being sold. Such allocation was made on the basis of the fair value of the assets being sold relative to the overall fair value of the PMG reporting unit. This resulted in the Company recording a reduction of goodwill in the amount of $2,711,000 for the PMG reporting unit. As the sale of the Halloween portion of PMG’s business was a triggering event, the Company performed an interim impairment test on the goodwill remaining in the PMG reporting unit after the reduction in goodwill associated with the sale of the Halloween portion of PMG’s business was recorded. The Company determined that no impairment existed for the remainder of the goodwill of the PMG reporting unit.

The change in the carrying amount of goodwill for the nine months ended December 31, 2012 is as follows (in thousands):

 

         

Balance as of March 31, 2012

  $ 17,233  

Reduction related to disposition of product line

    (2,711 ) 
   

 

 

 

Balance as of December 31, 2012

  $ 14,522  
   

 

 

 

The gross carrying amount and accumulated amortization of other intangible assets is as follows (in thousands):

 

                                                 
    December 31, 2012     March 31, 2012     December 31, 2011  
    Gross
Carrying
Amount
    Accumulated
Amortization
    Gross
Carrying
Amount
    Accumulated
Amortization
    Gross
Carrying
Amount
    Accumulated
Amortization
 

Tradenames and trademarks

  $ 12,793     $ 0     $ 12,793     $ 0     $ 12,793     $ 0  

Customer relationships

    22,057       7,484       22,057       6,358       22,057       5,984  

Non-compete

    0       0       200       200       200       200  

Trademarks

    403       235       403       213       403       205  

Patents

    1,301       389       1,301       294       1,337       272  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
    $ 36,554     $ 8,108     $ 36,754     $ 7,065     $ 36,790     $ 6,661  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Amortization expense related to intangible assets was $414,000 and $424,000 for the quarters ended December 31, 2012 and 2011, respectively, and was $1,243,000 and $1,279,000 for the nine months ended December 31, 2012 and 2011, respectively. Based on the current composition of intangibles, amortization expense for the remainder of fiscal 2013 and each of the succeeding four years is projected to be as follows (in thousands):

 

         

Remainder of fiscal 2013

  $ 415  

Fiscal 2014

    1,658  

Fiscal 2015

    1,639  

Fiscal 2016

    1,638  

Fiscal 2017

    1,638