| Intangible Assets |
Note 6 – 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 March 31, 2025 |
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Intangibles subject to amortization: |
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Customer relationships |
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8 - 20 years |
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$ |
16,200 |
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$ |
3,041 |
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$ |
13,159 |
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Technology and technical know-how |
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10 - 20 years |
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12,600 |
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2,290 |
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10,310 |
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Backlog |
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4 years |
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3,900 |
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3,900 |
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— |
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Tradename |
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3 years |
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|
300 |
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142 |
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158 |
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$ |
33,000 |
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$ |
9,373 |
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$ |
23,627 |
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Intangibles not subject to amortization: |
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Goodwill |
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Indefinite |
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$ |
25,520 |
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$ |
— |
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$ |
25,520 |
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Tradename |
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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 |
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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 |
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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 |
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4 years |
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3,900 |
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3,677 |
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223 |
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Tradename |
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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 |
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Indefinite |
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$ |
25,520 |
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$ |
— |
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$ |
25,520 |
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Tradename |
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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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$ |
0 |
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$ |
32,220 |
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A portion of Technology and technical know-how, tradenames, and Customer relationships are amortized in Selling, general and administrative expense on a straight line basis over each of their estimated useful lives. Backlog and a portion of technology and technical know-how are amortized in Cost of products sold over the projected conversion period based on management estimates at time of purchase. Intangible asset amortization was $2,218, $2,157 and $2,476 for fiscal 2025, fiscal 2024 and fiscal 2023, respectively. The estimated annual amortization expense is as follows:
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Annual Amortization |
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2026 |
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$ |
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 |
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1,895 |
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2031 and thereafter |
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13,994 |
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Total intangible amortization |
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$ |
23,627 |
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