| Intangible Assets |
NOTE 5 – INTANGIBLE ASSETS: Intangible assets are comprised of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average Amortization Period |
|
Gross Carrying Amount |
|
|
Accumulated Amortization |
|
|
Net Carrying Amount |
|
At June 30, 2026 |
|
|
|
|
|
|
|
|
|
|
Intangibles subject to amortization: |
|
|
|
|
|
|
|
|
|
|
Customer relationships |
8 - 20 years |
|
$ |
19,600 |
|
|
$ |
4,584 |
|
|
$ |
15,016 |
|
Technology and technical know-how |
9 - 20 years |
|
|
26,550 |
|
|
|
3,892 |
|
|
|
22,658 |
|
Tradename |
3 years |
|
|
300 |
|
|
|
267 |
|
|
|
33 |
|
|
|
|
$ |
46,450 |
|
|
$ |
8,743 |
|
|
$ |
37,707 |
|
|
|
|
|
|
|
|
|
|
|
|
Intangibles not subject to amortization: |
|
|
|
|
|
|
|
|
|
|
Goodwill |
Indefinite |
|
$ |
37,326 |
|
|
$ |
— |
|
|
$ |
37,326 |
|
Tradename |
Indefinite |
|
|
13,400 |
|
|
|
— |
|
|
|
13,400 |
|
|
|
|
$ |
50,726 |
|
|
$ |
— |
|
|
$ |
50,726 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average Amortization Period |
|
Gross Carrying Amount |
|
|
Accumulated Amortization |
|
|
Net Carrying Amount |
|
At March 31, 2026 |
|
|
|
|
|
|
|
|
|
|
Intangibles subject to amortization: |
|
|
|
|
|
|
|
|
|
|
Customer relationships |
8 - 20 years |
|
$ |
19,600 |
|
|
$ |
4,228 |
|
|
$ |
15,372 |
|
Technology and technical know-how |
9 - 20 years |
|
|
26,550 |
|
|
|
3,318 |
|
|
|
23,232 |
|
Tradename |
3 years |
|
|
300 |
|
|
|
242 |
|
|
|
58 |
|
|
|
|
$ |
46,450 |
|
|
$ |
7,788 |
|
|
$ |
38,662 |
|
|
|
|
|
|
|
|
|
|
|
|
Intangibles not subject to amortization: |
|
|
|
|
|
|
|
|
|
|
Goodwill |
Indefinite |
|
$ |
38,078 |
|
|
$ |
— |
|
|
$ |
38,078 |
|
Tradename |
Indefinite |
|
|
13,400 |
|
|
|
— |
|
|
|
13,400 |
|
|
|
|
$ |
51,478 |
|
|
$ |
— |
|
|
$ |
51,478 |
|
Intangible amortization was $955 and $499 for the three months ended June 30, 2026 and 2025, respectively. Inventory step up amortization of $95 was expensed in the three months ended June 30, 2026. The estimated annual amortization expense by fiscal year is as follows:
|
|
|
|
|
|
|
Annual Amortization |
|
Remainder of 2027 |
|
$ |
2,824 |
|
2028 |
|
|
3,721 |
|
2029 |
|
|
3,721 |
|
2030 |
|
|
3,721 |
|
2031 |
|
|
3,721 |
|
2032 and thereafter |
|
|
19,999 |
|
Total intangible amortization |
|
$ |
37,707 |
|
|
|
|
|
The change in the carrying amount of goodwill is as follows:
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
June 30, |
|
|
|
2026 |
|
Balance at beginning of period |
|
$ |
38,078 |
|
Impact of measurement period adjustments of acquisitions (Note 2) |
|
|
(752 |
) |
Balance at end of period |
|
$ |
37,326 |
|
|