
	March 31, 2026
	Gross Carrying Amount		Accumulated Amortization		Net Book Value
Purchased software	$	889	$	(681)	$	208
Internally developed software	5,196		(1,574)		3,622
In-place lease and other intangibles	1,094		(557)		537
Customer relationships	8,446		(2,707)		5,739
Patents	1,139		(1,118)		21
Government contracts	716		(195)		521
Tradenames	1,233		(46)		1,187
Other	1,551		(1,168)		383
	20,264		(8,046)		12,218
In-process software	811		—		811
Intangible assets, total	$	21,075	$	(8,046)	$	13,029


	March 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Book Value
Purchased software	$	865	$	(549)	$	316
Internally developed software	3,658		(1,111)		2,547
In-place lease and other intangibles	1,094		(460)		634
Customer relationships	8,012		(2,007)		6,005
Patents	1,139		(1,114)		25
Government contracts	—		—		—
Tradenames	—		—		—
Other	1,512		(1,089)		423
	16,280		(6,330)		9,950
In-process software	70		—		70
Intangible assets, total	$	16,350	$	(6,330)	$	10,020

The increase in customer relationships from March 31, 2025 to March 31, 2026 relates to changes in foreign currency translation adjustments.

Intangible assets obtained through the acquisition of Rex and recognized at acquisition date fair value included government contracts, tradenames, and internally developed software totaling $0.7 million, $1.2 million, and $1.4 million, respectively. The estimated useful lives over which the intangible assets will be amortized are as follows: government contracts (1.0 years), tradenames (7.5 years), and internally developed software (5.0 years). The weighted average amortization period is 5.1 years. Refer to Note 2 for additional information on the acquisition of Rex.

Based on the intangible assets recorded at March 31, 2026 and assuming no subsequent additions to, or impairment of the underlying assets, and no changes in foreign currency exchange rates. the remaining estimated annual amortization expense is as follows (in thousands):

The carrying amount of goodwill as of March 31, 2026 and March 31, 2025 was $11.8 million and $10.5 million, respectively. The increase from the prior fiscal year end balance is attributable to the Royal acquisition within the overnight air cargo segment (as described in Note 2) of $1.0 million and the $0.3 million change in foreign currency translation adjustments related to the goodwill balance at Shanwick within the digital solutions segment. There was no impairment to goodwill during the twelve months ended March 31, 2026.

Goodwill for relevant segments and corporate and other, at original cost, consists of the following (in thousands):


	March 31, 2026		March 31, 2025
Overnight air cargo	$	1,113	$	76
Commercial aircraft, engines and parts	4,227		4,227
Digital solutions	6,478		6,239
Total reportable segment goodwill, at cost	11,818		10,542
Corporate and other	376		376
Less accumulated impairment	(376)		(376)
Goodwill, net of impairment	$	11,818	$	10,542