| Intangible Assets |
NOTE 5 – INTANGIBLE ASSETS:
Intangible assets are comprised of the following:
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Weighted Average Amortization Period |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Carrying Amount |
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At December 31, 2024 |
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Intangibles subject to amortization: |
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Customer relationships |
8 - 20 years |
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$ |
16,200 |
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$ |
2,756 |
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$ |
13,444 |
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Technology and technical know-how |
10 - 20 years |
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12,600 |
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2,101 |
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10,499 |
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Backlog |
4 years |
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3,900 |
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3,844 |
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56 |
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Tradename |
3 years |
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|
300 |
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117 |
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183 |
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$ |
33,000 |
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$ |
8,818 |
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$ |
24,182 |
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Intangibles not subject to amortization: |
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Goodwill |
Indefinite |
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$ |
25,520 |
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$ |
— |
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$ |
25,520 |
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Tradename |
Indefinite |
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6,700 |
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— |
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6,700 |
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$ |
32,220 |
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$ |
— |
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$ |
32,220 |
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Weighted Average Amortization Period |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Carrying Amount |
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At March 31, 2024 |
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Intangibles subject to amortization: |
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Customer relationships |
8 - 20 years |
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$ |
16,200 |
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$ |
1,901 |
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$ |
14,299 |
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Technology and technical know-how |
10 - 20 years |
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12,600 |
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1,535 |
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11,065 |
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Backlog |
4 years |
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3,900 |
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3,677 |
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|
223 |
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Tradename |
3 years |
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|
300 |
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42 |
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|
258 |
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$ |
33,000 |
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$ |
7,155 |
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$ |
25,845 |
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Intangibles not subject to amortization: |
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Goodwill |
Indefinite |
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$ |
25,520 |
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$ |
— |
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$ |
25,520 |
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Tradename |
Indefinite |
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6,700 |
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— |
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6,700 |
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$ |
32,220 |
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$ |
— |
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$ |
32,220 |
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Intangible amortization was $554 and $596 for the three months ended December 31, 2024 and 2023, respectively, and $1,663 and $1,487 for the nine months ended December 31, 2024 and 2023, respectively. The estimated annual future amortization expense by fiscal year is as follows:
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Annual Amortization |
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Remainder of 2025 |
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$ |
555 |
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2026 |
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1,995 |
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2027 |
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1,953 |
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2028 |
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1,895 |
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2029 |
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1,895 |
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2030 and thereafter |
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15,889 |
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Total intangible amortization |
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$ |
24,182 |
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