Graham Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Intangible Assets

Intangible Assets

12 Months Ended

Mar. 31, 2014

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 March 31, 2014
Intangibles subject to amortization:
Backlog	$	170	$	170	$	—
Customer relationships		2,700		592		2,108

	$	2,870	$	762	$	2,108

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 was $180, $180 and $250 in fiscal 2014, fiscal 2013 and fiscal 2012, respectively. As of March 31, 2014, amortization expense is estimated to be $180 in each of the fiscal years ending March 31, 2015, 2016, 2017, 2018 and 2019.

There was no change in goodwill during fiscal 2014 or fiscal 2013. Goodwill was $6,938 at March 31, 2014 and 2013.