Graham Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

9 Months Ended

Dec. 31, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 5 – INTANGIBLE ASSETS:

Intangible assets are comprised of the following:


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
At December 31, 2013
Intangibles subject to amortization:
Backlog		$ 170		$170		$ -
Customer relationships		2,700		547		2,153
		$ 2,870		$717		$2,153

Intangibles not subject to amortization:
Permits		$10,300		$ -		$10,300
Tradename		2,500		-		2,500
		$12,800		$ -		$12,800

At March 31, 2013
Intangibles subject to amortization:
Backlog		$ 170		$170		$ -
Customer relationships		2,700		412		2,288
		$ 2,870		$582		$ 2,288

Intangibles not subject to amortization:
Permits		$10,300		$ -		$10,300
Tradename		2,500		-		2,500
		$12,800		$ -		$12,800

Intangible assets are amortized on a straight line basis over their estimated useful lives. Intangible amortization expense for each of the three-month periods ended December 31, 2013 and 2012 was $45. Intangible amortization expense for each of the nine months ended December 31, 2013 and 2012 was $135. As of December 31, 2013, amortization expense is estimated to be $45 for the remainder of fiscal 2014 and $180 in each of the fiscal years ending March 31, 2015, 2016, 2017 and 2018.