Quarterly report pursuant to Section 13 or 15(d)

Goodwill (Tables)

v3.6.0.2
Goodwill (Tables)
9 Months Ended
Dec. 31, 2016
Acquired Finite-Lived Intangible Assets [Line Items]  
Schedule of Business Acquisitions, by Acquisition
Consideration to or on behalf of sellers at close
$
10,956

Fair value of total consideration transferred
$
10,956

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the fair value of the assets and liabilities assumed:
Assets acquired:
 
     Accounts receivable
$
1,693

     Inventories
1,299
     Other current assets
33
     Property, plant and equipment
1,316
     Identifiable intangible assets
3,085
     Goodwill
7,992
Deferred tax asset
111
Total assets
15,529

Liabilities assumed:
 
     Current liabilities
935
Total liabilities
935

Non-controlling interests
3,638

Total consideration
$
10,956

Schedule of Intangible Assets
Our total intangible assets consisted of the following (including Sumac and IPI):
 
 
Gross Carrying Amount at December 31, 2016
 
Accumulated Amortization
 
Net Carrying Amount at December 31, 2016
 
Gross Carrying Amount March 31, 2016
 
Accumulated Amortization
 
Net Carrying Amount at March 31, 2016
Trademarks
 
$
44,294

 
$
450

 
$
43,844

 
$
45,234

 
$
237

 
$
44,997

Developed technology
 
9,734

 
3,305

 
6,429

 
9,950

 
2,988

 
6,962

Customer relationships
 
99,197

 
61,697

 
37,500

 
105,720

 
54,913

 
50,807

Certification
 
438

 

 
438

 
449

 

 
449

Other
 
2,625

 
2,175

 
450

 
2,631

 
1,848

 
783

Total
 
$
156,288

 
$
67,627

 
$
88,661

 
$
163,984

 
$
59,986

 
$
103,998

Schedule of carrying amount of goodwill
The carrying amount of goodwill by operating segment as of December 31, 2016 is as follows:
 
United States
 
Canada
 
Europe
 
Asia
 
Total
Balance as of March 31, 2016
$
48,971

 
$
44,488

 
$
19,427

 
$
8,624

 
$
121,510

Adjustments to purchase price allocation
3,045

 

 

 

 
3,045

Foreign currency translation impact

 
(1,458
)
 
(1,331
)
 

 
(2,789
)
Balance as of December 31, 2016
$
52,016

 
$
43,030

 
$
18,096

 
$
8,624

 
$
121,766

Industrial Process Insulators, Inc.  
Acquired Finite-Lived Intangible Assets [Line Items]  
Schedule of Business Acquisitions, by Acquisition
During the nine months ended December 31, 2016, we finalized our provisional purchase accounting for the IPI transaction. The table below summarizes our provisional estimates of the fair value of assets and liabilities assumed as well as the final fair value of assets and liabilities assumed:

 
Provisional Fair Value
 
Final Fair Value
Customer relationships
$
10,720

 
$
5,962

Goodwill
10,204

 
13,249

Noncurrent deferred tax liability
4,962

 
3,249

Consideration to or on behalf of sellers at close
$
21,750

Fair value of total consideration transferred
$
21,750

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the fair value of the assets and liabilities assumed:
Assets acquired:

Cash
$
1,526

     Accounts receivable
3,723

Inventories
474

     Other current assets
204
     Property, plant and equipment
119
     Identifiable intangible assets
9,026
     Goodwill
13,249
Total assets
28,321

Liabilities assumed:

     Current liabilities
2,203
Uncertain tax position liability
1,119

     Noncurrent deferred tax liability
3,249
Total liabilities
6,571

Total consideration
$
21,750

Schedule of Intangible Assets
Our identifiable intangible assets at December 31, 2016 and March 31, 2016 that were related to the IPI transaction consisted of the following:
 
Amortization period
 
Gross Carrying Amount at December 31, 2016
 
Accumulated Amortization
 
Net Carrying Amount at December 31, 2016
 
Gross Carrying Amount March 31, 2016
 
Accumulated Amortization
 
Net Carrying Amount at March 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
8 years
 
$
5,962

 
$
1,056

 
$
4,906

 
$
10,720

 
$
715

 
$
10,005

Trademark
8 years
 
1,820

 
322

 
1,498

 
1,820

 
152

 
1,668

Non-compete agreement
3 years
 
807

 
381

 
426

 
$
807

 
$
179

 
$
628

Total
 
 
$
8,589

 
$
1,759

 
$
6,830

 
$
13,347

 
$
1,046

 
$
12,301

Sumac Fabrication Company Limited  
Acquired Finite-Lived Intangible Assets [Line Items]  
Schedule of Intangible Assets
Our identifiable intangible assets at December 31, 2016 and March 31, 2016 that were related to the Sumac transaction consisted of the following:
 
Amortization period
 
Gross Carrying Amount at December 31, 2016
 
Accumulated Amortization
 
Net Carrying Amount at December 31, 2016
 
Gross Carrying Amount March 31, 2016
 
Accumulated Amortization
 
Net Carrying Amount at March 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
4 years
 
2,526

 
1,105

 
1,421

 
2,612

 
653

 
1,959

Non-compete agreement
2 years
 
188

 
164

 
24

 
194

 
97

 
97

Total
 
 
$
2,714

 
$
1,269

 
$
1,445

 
$
2,806

 
$
750

 
$
2,056