Goodwill and Other Intangibles

3 Months Ended

Jul. 01, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangibles, net, consisted of the following (in thousands):


	July 1, 2023						April 1, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Indefinite-lived
Goodwill	$	115,498	$	—	$	115,498	$	114,547	$	—	$	114,547
Trademarks and trade names	16,980		—		16,980		16,980		—		16,980
State insurance licenses	1,100		—		1,100		1,100		—		1,100
	133,578		—		133,578		132,627		—		132,627
Finite-lived
Customer relationships	15,000		(4,267)		10,733		16,900		(5,818)		11,082
Other	1,114		(529)		585		1,114		(486)		628
	$	149,692	$	(4,796)	$	144,896	$	150,641	$	(6,304)	$	144,337

During the three months ended July 1, 2023, fair value adjustments were made to certain assets and liabilities of Solitaire Homes in connection with purchase accounting measurement period adjustments. This resulted in additional Goodwill of $1.0 million. See Note 20.

Amortization expense recognized on intangible assets for the three months ended July 1, 2023 and July 2, 2022 was $0.4 million and $0.5 million, respectively. Customer relationships have a weighted average remaining life of 7.6 years and other finite lived intangibles have a weighted average remaining life of 3.3 years.

Expected amortization for future fiscal years is as follows (in thousands):


Remainder of fiscal year 2024	$	1,177
2025	1,530
2026	1,488
2027	1,415
2028	1,299
2029	1,265
Thereafter	3,144
	$	11,318