| 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, 2026 |
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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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$ |
19,600 |
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$ |
4,228 |
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$ |
15,372 |
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Technology and technical know-how |
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9 - 20 years |
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26,550 |
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3,318 |
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23,232 |
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Tradename |
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3 years |
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|
300 |
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242 |
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58 |
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$ |
46,450 |
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$ |
7,788 |
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$ |
38,662 |
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Intangibles not subject to amortization: |
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Goodwill |
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Indefinite |
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$ |
38,078 |
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$ |
— |
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$ |
38,078 |
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Tradename |
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Indefinite |
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13,400 |
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— |
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13,400 |
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$ |
51,478 |
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$ |
— |
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$ |
51,478 |
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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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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 $2,315, $2,218 and $2,157 for fiscal 2026, fiscal 2025 and fiscal 2024, respectively. Inventory step up amortization of $191 was expensed in fiscal 2026 for the FlackTek acquisition. The estimated annual amortization expense is as follows:
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Annual Amortization |
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2027 |
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$ |
3,780 |
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2028 |
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|
3,721 |
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2029 |
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|
3,721 |
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2030 |
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|
3,721 |
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2031 |
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3,721 |
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2032 and thereafter |
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|
19,998 |
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Total intangible amortization |
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$ |
38,662 |
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