Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

v3.10.0.1
INTANGIBLE ASSETS
 9 Months Ended
Dec. 29, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS
INTANGIBLE ASSETS
 
 
 
 
 
 
 
December 2018
 
 
March 2018
(In thousands)
 
Weighted
Average
Amortization
Period
 
Amortization
Method
 
 
Cost
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
 
Net
Carrying
Amount
Amortizable intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
 
17 years
 
Accelerated
 
 
$
344,757

 
$
139,230

 
$
205,527

 
 
$
201,544

License agreements
 
19 years
 
Accelerated
 
 
7,663

 
4,743

 
2,920

 
 
6,256

Trademarks
 
16 years
 
Straight-line
 
 
58,932

 
11,236

 
47,696

 
 
50,623

Other
 
8 years
 
Straight-line
 
 
8,283

 
3,935

 
4,348

 
 
5,170

Amortizable intangible assets, net
 
 
 
 
 
 
 
 
260,491

 
 
263,593

Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Trademarks and trade names
 
 
 
 
 
 
 
 
1,795,474

 
 
1,856,517

Intangible assets, net
 
 
 
 
 
 
 
 
 
 
$
2,055,965

 
 
$
2,120,110



Intangible assets decreased during the nine months ended December 2018 due to the divestiture of the Reef® brand business and foreign currency fluctuations, which were partially offset by the addition of intangible assets from the Icebreaker and Altra acquisitions.
Amortization expense for the three and nine months ended December 2018 was $7.5 million and $23.3 million, respectively. Based on the carrying amounts of amortizable intangible assets noted above, estimated amortization expense for the next five years beginning in Fiscal 2019 is $32.4 million, $31.2 million, $29.7 million, $27.8 million and $26.3 million, respectively.