Goodwill and Intangible Assets

9 Months Ended

Dec. 26, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

4. Goodwill and Intangible Assets

Goodwill

Goodwill represents the excess of the cost of an acquired business over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. At December 26, 2020 and March 28, 2020, the Company had goodwill of $173.5 million.

Intangible Assets

The components of amortizable intangible assets were as follows:

(Dollars in thousands)	December 26, 2020									March 28, 2020
	Customer Relationships			Trade Names			Total			Customer Relationships			Trade Names			Total
Gross carrying amount	$	48,845		$	13,261		$	62,106		$	48,370		$	13,068		$	61,438
Accumulated amortization		(16,847	)		(5,987	)		(22,834	)		(13,118	)		(4,963	)	$	(18,081	)
Amortizable intangibles, net	$	31,998		$	7,274		$	39,272		$	35,252		$	8,105		$	43,357

During both the three months ended December 26, 2020 and December 28, 2019, amortization of intangible assets was $1.4 million. During both the nine months ended December 26, 2020 and December 28, 2019, amortization of intangible assets was $4.1 million.