NOTE 7. EXCLUSIVE BRAND LICENSES, TRADEMARKS AND INTANGIBLES, NET AND GOODWILL

The following summarizes the cost basis amortization and weighted average estimated life associated with the Company's intangible assets:


							June 30, 2015
		March 31,			June 30,		Weighted Average
*(Amounts in thousands)*		2016			2015		Estimated Life
Elizabeth Arden brand trademarks	$	122,415		$	122,415		Indefinite
Exclusive brand licenses and related trademarks		107,787			107,748		16
Exclusive brand trademarks and patents		117,944			106,458		16
Other intangibles ⁽¹⁾		18,588			18,588		18
Exclusive brand licenses, trademarks and intangibles, gross		366,734			355,209

Accumulated amortization:
Exclusive brand licenses and related trademarks		(71,626	)		(66,658	)
Exclusive brand trademarks and patents		(58,864	)		(55,894	)
Other intangibles		(8,544	)		(7,762	)
Exclusive brand licenses, trademarks and intangibles, net	$	227,700		$	224,895

(1)	Primarily consists of customer relationships, customer lists and non-compete agreements.

During the third quarter of fiscal 2016, the Company acquired the U.S and international trademarks for the Giorgio of Beverly Hills fragrance brands from the Procter & Gamble Company and certain of its affiliates for $10.5 million. Prior to the acquisition of the trademarks, the Company had been selling the Giorgio Beverly Hills fragrances under a license agreement with the Procter & Gamble Company and certain of its affiliates.

At March 31, 2016, the Company had goodwill of $31.6 million recorded on its consolidated balance sheet. The entire amount of the goodwill in all periods presented relates to the North America segment. The Company did not record any impairments during the three and nine months ended March 31, 2016, as there were no events that triggered an impairment analysis. During the second quarter of fiscal 2015, the Company recorded a total impairment charge of approximately $39.6 million to write off the carrying values of both the Justin Bieber and Nicki Minaj licenses.

Amortization expense was $3.0 million for both the three months ended March 31, 2016 and 2015, and $8.7 million and $12.1 million for the nine months ended March 31, 2016 and 2015, respectively. At March 31, 2016, the Company estimated annual amortization expense for the remainder of fiscal 2016 and for each of the next four fiscal years as shown in the following table. Future acquisitions, renewals or impairment events could cause these amounts to change.


*(Amounts in millions)*		2016		2017		2018		2019		2020
Amortization expense	$	3.0	$	10.8	$	10.7	$	10.6	$	10.5