Goodwill and Intangible Assets

12 Months Ended

Mar. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Identifiable Intangible Assets

The changes in the carrying amount of goodwill were as follows:



(In thousands)	Amount
Balance as of April 1, 2012	$	6,495
Fiscal 2013 activity	—

Balance as of March 31, 2013	6,495
Fiscal 2014 activity (ACS Acquisition)	897

Balance as of March 30, 2014	$	7,392

Through fiscal 2013, all of our goodwill was related to our Industrial operating segment. The increase in goodwill during fiscal 2014 relates to the acquisition of ACS, and is recorded as part of our Water Treatment segment.

The following is a summary of our intangible assets as of March 30, 2014 and March 31, 2013:



	2014							2013
	Gross Amount		Accumulated Amortization			Net		Gross Amount		Accumulated Amortization			Net
(In thousands)
Finite-life intangible assets:
Customer relationships	$	6,913	$	(1,292	)	$	5,621	$	5,508	$	(981	)	$	4,527
Trademark	1,335		(421		)	914		1,240		(274		)	966
Trade secrets	962		(768		)	194		962		(640		)	322
Carrier relationships	800		(257		)	543		800		(177		)	623
Other finite-life intangible assets	341		(331		)	10		339		(326		)	13
Total finite-life intangible assets	10,351		(3,069		)	7,282		8,849		(2,398		)	6,451
Indefinite-life intangible assets	1,227		—			1,227		1,227		—			1,227
Total intangible assets, net	$	11,578	$	(3,069	)	$	8,509	$	10,076	$	(2,398	)	$	7,678

Intangible asset amortization expense was $0.7 million during fiscal 2014, $0.6 million during fiscal 2013, and $0.6 million during fiscal 2012.

The estimated future amortization expense for identifiable intangible assets during the next five years is as follows:



(In thousands)	2015		2016		2017		2018		2019
Estimated amortization expense	$	730	$	616	$	570	$	558	$	550

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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