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Other Intangible Assets
12 Months Ended
Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Other Intangible Assets

Note 15 — Other Intangible Assets

 

Other intangible assets consisted of the following at March 31, 2019:

 

Item

 

Life

 

Cost

 

 

Fiscal 2019 Amortization

Expense

 

 

Accumulated

Amortization at

March 31, 2019

 

 

Cost, Net of

Accumulated

Amortization at

March 31, 2019

 

Covenant Not to Compete

 

5 years

 

$

775,000

 

 

$

 

 

$

775,000

 

 

$

 

Customer Relationships

 

18-20 years

 

 

7,922,000

 

 

 

426,000

 

 

 

4,993,000

 

 

 

2,929,000

 

Third Party Administrator  Licenses

 

15 years

 

 

204,000

 

 

 

14,000

 

 

 

158,000

 

 

 

46,000

 

Total

 

 

 

$

8,901,000

 

 

$

440,000

 

 

$

5,926,000

 

 

$

2,975,000

 

Other intangible assets consisted of the following at March 31, 2018:

 

Item

 

Life

 

Cost

 

 

Fiscal 2018 Amortization

Expense

 

 

Accumulated

Amortization at

March 31, 2018

 

 

Cost, Net of

Accumulated

Amortization at

March 31, 2018

 

Covenant Not to Compete

 

5 years

 

$

775,000

 

 

$

 

 

$

775,000

 

 

$

 

Customer Relationships

 

18-20 years

 

 

7,922,000

 

 

 

423,000

 

 

 

4,566,000

 

 

 

3,356,000

 

Third Party Administrator  Licenses

 

15 years

 

 

204,000

 

 

 

14,000

 

 

 

145,000

 

 

 

59,000

 

Total

 

 

 

$

8,901,000

 

 

$

437,000

 

 

$

5,486,000

 

 

$

3,415,000

 

 

Amortization expense is expected to be $435,000 in fiscal 2020, $435,000 in fiscal 2021, $435,000 in fiscal 2022, $425,000 in fiscal 2023, $423,000 in fiscal 2024, and $822,000 thereafter.