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Intangible Assets (Tables)
6 Months Ended 12 Months Ended
Sep. 30, 2014
Mar. 31, 2014
Intangible Assets    
Schedule of intangible assets

 

 

 

 

 

 

September 30, 2014

 

March 31, 2014

 

 

 

Amortizable

 

Gross Carrying

 

Accumulated

 

Gross Carrying

 

Accumulated

 

 

 

Lives

 

Amount

 

Amortization

 

Amount

 

Amortization

 

 

 

 

 

(in thousands)

 

Amortizable —

 

 

 

 

 

 

 

 

 

 

 

Customer relationships (1)

 

3–20 years

 

$

761,992

 

$

119,439

 

$

697,405

 

$

83,261

 

Pipeline capacity rights

 

30 years

 

94,800

 

942

 

 

 

Water facility development agreement

 

5 years

 

14,000

 

3,500

 

14,000

 

2,100

 

Executory contracts and other agreements

 

5–10 years

 

23,920

 

16,367

 

23,920

 

13,190

 

Non-compete agreements

 

2–7 years

 

14,412

 

8,302

 

14,161

 

6,388

 

Trade names

 

2–10 years

 

14,539

 

5,197

 

15,489

 

3,081

 

Debt issuance costs

 

5–10 years

 

53,289

 

12,737

 

44,089

 

8,708

 

Total amortizable

 

 

 

976,952

 

166,484

 

809,064

 

116,728

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-amortizable —

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

 

 

27,620

 

 

 

22,620

 

 

 

Total

 

 

 

$

1,004,572

 

$

166,484

 

$

831,684

 

$

116,728

 

 

 

(1)     The weighted-average remaining amortization period for customer relationship intangible assets is approximately 9 years.

 

 

 

 

 

 

March 31, 2014

 

March 31, 2013

 

 

 

 

 

 

 

 

 

Gross Carrying

 

 

 

 

 

Amortizable

 

Gross Carrying

 

Accumulated

 

Amount

 

Accumulated

 

 

 

Lives

 

Amount

 

Amortization

 

(Note 2)

 

Amortization

 

 

 

 

 

 

 

(in thousands)

 

 

 

Amortizable -

 

 

 

 

 

 

 

 

 

 

 

Customer relationships (1)

 

3–20 years

 

$

697,405

 

$

83,261

 

$

405,160

 

$

30,959

 

Water facility development agreement

 

5 years

 

14,000

 

2,100

 

 

 

Lease and other agreements

 

5–8 years

 

23,920

 

13,190

 

15,210

 

7,018

 

Non-compete agreements

 

2–7 years

 

14,161

 

6,388

 

11,509

 

2,871

 

Trade names

 

1–10 years

 

15,489

 

3,081

 

2,784

 

326

 

Debt issuance costs

 

5–10 years

 

44,089

 

8,708

 

19,494

 

2,981

 

Total amortizable

 

 

 

809,064

 

116,728

 

454,157

 

44,155

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-amortizable -

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

 

 

22,620

 

 

 

31,430

 

 

 

Total

 

 

 

$

831,684

 

$

116,728

 

$

485,587

 

$

44,155

 

 

 

(1)         The weighted-average remaining amortization period for customer relationship intangible assets is approximately nine years.

Schedule of amortization expense

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

September 30,

 

September 30,

 

Recorded In

 

2014

 

2013

 

2014

 

2013

 

 

 

(in thousands)

 

Depreciation and amortization

 

$

21,711

 

$

11,324

 

$

42,604

 

$

20,600

 

Cost of sales

 

1,984

 

949

 

4,121

 

1,574

 

Interest expense

 

2,117

 

1,065

 

4,029

 

2,462

 

Total

 

$

25,812

 

$

13,338

 

$

50,754

 

$

24,636

 

 

 

 

 

 

 

Year Ended March 31,

 

Recorded in

 

2014

 

2013

 

2012

 

 

 

(in thousands)

 

Depreciation and amortization

 

$

60,855

 

$

29,657

 

$

4,538

 

Cost of sales

 

6,172

 

5,285

 

800

 

Interest expense

 

5,727

 

3,375

 

1,277

 

Loss on early extinguishment of debt

 

 

5,769

 

 

 

 

$

72,754

 

$

44,086

 

$

6,615

 

Schedule of expected amortization of intangible assets

Expected amortization of our intangible assets is as follows (in thousands):

 

Year Ending March 31,

 

 

 

2015 (six months)

 

$

50,570

 

2016

 

97,432

 

2017

 

90,795

 

2018

 

86,818

 

2019

 

79,587

 

Thereafter

 

405,266

 

Total

 

$

810,468

 

 

Expected amortization of our intangible assets is as follows (in thousands):

 

Year Ending March 31,

 

 

 

2015

 

$

88,970

 

2016

 

83,449

 

2017

 

76,826

 

2018

 

72,857

 

2019

 

66,826

 

Thereafter

 

303,408

 

 

 

$

692,336