Intangible Assets

6 Months Ended

Sep. 25, 2022

Intangible Assets

Intangible Assets

Note 3. Intangible Assets

Intangible assets, net on our Consolidated Balance Sheets as of September 25, 2022, consists of capitalized software for internal use, indefinite-lived intangible assets, and an immaterial amount of costs capitalized for software to be sold. Capitalized software for internal use, net of accumulated amortization, was $35,213,800 and $29,463,100 as of September 25, 2022 and March 27, 2022, respectively. Amortization expense of capitalized software for internal use was $165,700 and $198,100 for the three months ended September 25, 2022 and September 26, 2021, respectively. Amortization expense of capitalized software for internal use was $355,200 and $395,200 for the six months ended September 25, 2022 and September 26, 2021, respectively. The Company continues to capitalize costs related to an ongoing information technology project, which will be amortized after the project has been completed and placed in-service. This project is expected to be completed during the fourth quarter of fiscal 2023.

Indefinite-lived intangible assets were $795,400 as of September 25, 2022 and March 27, 2022.