Goodwill and Intangible Assets

9 Months Ended

Nov. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

(10)	Goodwill and Intangible Assets

The change in goodwill by segment is as follows:

Automotive Electronics:	Amount
Beginning balance at March 1, 2019	$	8,252
Activity during the period		—
Balance at November 30, 2019	$	8,252
Gross carrying amount at November 30, 2019	$	8,252
Accumulated impairment charge		—
Net carrying amount at November 30, 2019	$	8,252
Consumer Electronics:
Beginning balance at March 1, 2019	$	46,533
Activity during the period		—
Balance at November 30, 2019	$	46,533
Gross carrying amount at November 30, 2019	$	78,696
Accumulated impairment charge		(32,163	)
Net carrying amount at November 30, 2019	$	46,533
Total Goodwill, net	$	54,785

The Company's Biometrics segment did not carry a goodwill balance at November 30, 2019 or February 28, 2019.

At November 30, 2019, intangible assets consisted of the following:

	Gross Carrying Value		Accumulated Amortization		Total Net Book Value
Finite-lived intangible assets:
Customer relationships	$	49,524	$	32,058	$	17,466
Trademarks/Tradenames		485		428		57
Developed technology		31,290		11,564		19,726
Patents		5,373		3,495		1,878
License		1,400		1,400		—
Contract		2,141		2,054		87
Total finite-lived intangible assets	$	90,213	$	50,999		39,214
Indefinite-lived intangible assets
Trademarks						74,792
Total intangible assets, net					$	114,006

At February 28, 2019, intangible assets consisted of the following:

	Gross Carrying Value		Accumulated Amortization		Total Net Book Value
Finite-lived intangible assets:
Customer relationships	$	49,743	$	29,746	$	19,997
Trademarks/Tradenames		485		413		72
Developed technology		31,290		9,523		21,767
Patents		5,390		2,907		2,483
License		1,400		1,400		—
Contract		2,141		1,966		175
Total finite-lived intangible assets	$	90,449	$	45,955		44,494
Indefinite-lived intangible assets
Trademarks						74,955
Total intangible assets, net					$	119,449

During the second quarter of Fiscal 2019, the Company re-evaluated its projections for several brands in its former Consumer Accessory and Automotive segments based on lower than anticipated results due to lower product load-ins, increased competition for certain product lines, a streamlining of SKU’s, and its marketing strategy for one of its brands. Accordingly, these were considered indicators of impairment requiring the Company to test the related indefinite-lived trademarks for impairment. The Company tested these indefinite-lived intangible assets as of August 31, 2018 and as a result of its analysis, it was determined that several of the Company's former Consumer Accessory trademarks and one Automotive trademark were impaired at August 31, 2018. The Company recorded an impairment charge of $9,814 for the nine months ended November 30, 2018, with $9,654 related to the former Consumer Accessories segment and $160 related to the Automotive segment. There can be no assurances that the estimates and assumptions used for purposes of triggering events reviews or impairment testing will prove to be accurate predictions of the future. Reduced demand for our existing product offerings, reductions of product placement at our customers, less than anticipated results, lack of acceptance of our new products, elimination of additional SKU’s, the inability to successfully develop our brands, or unfavorable changes in assumptions used in the discounted cash flow model such as discount rates, royalty rates, or projected long-term growth rates could result in additional impairment charges in the future.

The Company recorded amortization expense of $1,748 and $5,243 for the three and nine months ended November 30, 2019, respectively, and $1,582 and $4,745 for the three and nine months ended November 30, 2018, respectively. The estimated aggregate amortization expense for all amortizable intangibles for November 30 of each of the succeeding years is as follows:

Year	Amount
2020	$	6,766
2021		6,599
2022		5,910
2023		5,449
2024		5,358